Firmus Technologies plans Nasdaq listing after ASX IPO pullout
1 report, 1 independent
Updated Oct 13
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What happened
Firmus Technologies announced plans for a Nasdaq listing next year. This follows the company pulling its planned $5.5 billion initial public offering from the Australian Securities Exchange. The decision was partly driven by weak demand from offshore funds, including Coatue Management, which allocated less than $US100 million instead of the expected $US1 billion.
From afr.com
Why it matters
Ellerston Capital, a major local shareholder, remains confident in Firmus Technologies' Asian expansion plans despite the failed float on the Australian Securities Exchange. The shift in listing strategy suggests a change in how the company plans to fund its growth.
From afr.com
Who's involved
- NasdaqThe American stock exchange where Firmus Technologies plans to list its shares next year.
- Australian Securities ExchangeThe Australian exchange from which Firmus Technologies pulled its planned $5.5 billion IPO.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.Keep exploring
The entities involved
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Nasdaq
American fully electronic stock exchange
Related events
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- Nasdaq, Inc. is identified as a multinational financial technology services corporation.