Arabic version: طرح «فيرموس» يواجه تدقيقاً بشأن خطط مراكز البيانات
According to The Guardian, Firmus Technologies is preparing for an ASX listing later this month intended to raise $7bn, potentially making it Australia’s second-largest initial public offering on record after Telstra’s $14bn share sale in 1997. The company is building a 104-megawatt AI datacentre at St Leonards in Launceston, estimated to be worth $2.1bn.
The St Leonards project received fast-tracked approval from the City of Launceston in September last year without a public hearing. Local resident Kayla Thompson said she and neighbours did not know of Firmus’s Tasmanian datacentre plans until construction had begun. Firmus said it overhauled its community engagement program after strong feedback from Launceston residents.
Firmus’s implied valuation rose from just under $2bn in a private funding round a year ago to a targeted ASX debut valued at more than $40bn. The company operates two facilities, in Melbourne and Singapore, while most of its proposed development pipeline remains unbuilt. Its draft prospectus forecasts $5bn in annual earnings once that pipeline progresses. An investment manager who reviewed the draft prospectus questioned both the forecast and valuation; a Firmus spokesperson declined to comment on those issues.
Concerns about datacentre development extend beyond Tasmania. Community opposition has focused on the scale of projects, potential pressure on power grids and water supplies, diesel backup generators and fast approvals. Goodman Group recently withdrew plans for a datacentre near a public school in Lane Cove, Sydney, following local opposition.
Webull Securities Australia chief executive Rob Talevski said retail investors should consider whether they could become a liquidity exit strategy for early institutional investors. Blackstone and Jane Street are early backers, while no escrow arrangements are in place for major investors such as Blackstone. Firmus founders Oliver Curtis, Tim Rosenfield and Jonathan Levee may begin selling some holdings six months after listing if the share price rises. The company has also formed sporting partnerships with the Tasmanian Devils AFL team, Cricket Tasmania, and the JackJumpers and Jewels basketball teams.
