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

The $11-a-share offer would have been the biggest debut on the stock market since the telecommunication giant in 1997

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Firmus Technologies has scrapped what was set to be Australia’s biggest company listing in decades after investor demand for its much-hyped AI datacentre business failed to materialise.

A Firmus spokesperson said the board decided that proceeding with the offer was no longer in the best interests of the company and its shareholders.