Explore the latest developments concerning Firmus pricing talks.
Firmus pricing talks slide towards $8; bankers scramble to revive IPO
Firmus Technologies has closed off its bookbuild with its banking syndicate working overnight to save the float at $8.25 per share, after an abrupt reversal in the sentiment that was pushing the artificial intelligence infrastructure play toward becoming the biggest float in a generation.
Brokers provided little information to prospective investors on Thursday morning, saying only that the book was closed and advisers would “provide further information in relation to the offer”. The brokers – JPMorgan, Bank of America, Morgan Stanley and Morgans – had only earlier this week said there had been a rush of demand, pricing the float at $11 per share.
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