Data center operator Firmus Grid is set to launch its Initial Public Offering (IPO) in Australia this month, targeting a valuation of AUD 43.7 billion (approximately US$30.3 billion). With an issue price set at AUD 11 per share, the company aims to raise a minimum of US$5 billion. The book-building process is scheduled to kick off on October 6 and wrap up by October 9, barring any acceleration.

This upcoming listing is poised to be one of the most significant IPOs in Australia's history, rivaling the scale of Medibank Private's 2014 IPO, which garnered just under US$5 billion. The Firmus Grid IPO is anticipated to breathe new life into the Australian primary market. Over the past two years, IPO fundraising in Australia has consistently surpassed US$2 billion annually. However, the amount raised thus far this year has barely exceeded US$1 billion, highlighting the potential impact of Firmus Grid's market debut.