Firmus pulls biggest ASX float since Telstra amid investor doubt about datacentre company

Firmus Technologies has cancelled its planned Australian Securities Exchange listing—widely recognised as Australia’s largest company offering in recent history—because investors did not respond to enthusiasm surrounding its AI‑driven data centre vision.

A Firmus spokesperson confirmed that the board concluded that pursuing the listing was no longer aligned with the company’s interests or those of its shareholders.

“Firmus will now seek capital through private markets and explore alternative public and private market pathways,” the spokesperson stated on Friday morning.

“We will deliver further information to shareholders as these options mature.”

The entity, which projected a valuation of approximately A$44 billion, would have eclipsed the historic 1997 Telstra debut as the biggest ever ASX listing.

Further updates will follow soon.

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