Updated version 1 - Reports indicate Firmus is considering adjusting its $5 billions IPO plan, while Australia's Maas Group shares plunged 30%.
路透社2026/10/08 03:06Reuters, October 8 – On Thursday, Maas Group's (MGH.AX) shares plummeted by as much as 30% following reports that Nvidia (NVDA.O)-backed AI company Firmus is considering adjusting the terms of its much-anticipated $5 billion IPO. The stock fell to AUD 4.47, marking its largest intraday drop and the lowest point since May 6, wiping about AUD 694 million ($483.37 million) off the construction services company’s market capitalization. Key details: - Maas holds a 3.2% stake in the data center operator and had previously pledged an additional AUD 300 million at a per-share price of AUD 230 for both common and preferred stock earlier in August (link). - In an exchange filing, Maas stated that speculation about whether the IPO would proceed as scheduled has put market sentiment under pressure and added that it is not aware of any undisclosed information to explain the trading situation. - Firmus lists OpenAI as an anchor customer and is preparing what would be the second-largest IPO in Australian history (link). Reports earlier this week suggested the company might lower its offering price from AUD 11 per share. - If this listing proceeds smoothly, it would be Australia’s largest IPO in nearly 30 years, second only to the approximately $10 billion IPO by leading telecom operator Telstra (TLS.AX) in 1997. - Prior to Thursday’s sharp drop, Maas Group’s shares had already risen about 44% over the past 12 months, with investors valuing its link to AI-driven data center construction. - Firmus has not yet responded to Reuters’ request for comment. ($1 = AUD 1.4358) (For the convenience of non-English speakers, Reuters provides its reports through automated translation in several other languages. Due to possible inaccuracies or lack of proper context, Reuters does not guarantee the accuracy of automated translations and provides these solely for reader convenience. Reuters assumes no responsibility for any damage or losses arising from the use of automated translation functions.)
Full rewrite
Reuters, October 8 - On Thursday, reports indicated that artificial intelligence company Firmus, backed by NVIDIA NVDA.O, is considering adjusting the terms of its high-profile $5 billion initial public offering (IPO), while the share price of Australian Maas Group MGH.AX plunged up to 30%.
The stock fell to AU$4.47, marking its largest intraday drop on record and the lowest point since May 6, wiping out around AU$694 million (US$483.37 million) from the construction services company’s market value.
More details:
Maas holds a 3.2% stake in the data center operator, and earlier in August pledged an additional investment of AU$300 million through ordinary shares and preference shares priced at AU$230 each (link)
In a stock exchange filing, Maas stated that speculation over whether the IPO would proceed as scheduled had pressured market sentiment, adding that it was not aware of any undisclosed information that could explain the latest trading activity
Firmus lists OpenAI as an anchor client and is preparing for what would be Australia’s second-largest IPO ever (link). Earlier this week, reports suggested the company might cut its offer price from AU$11 per share
If the listing goes smoothly, it will mark Australia’s largest IPO in nearly three decades, second only to major telecom operator Telstra’s AU$10 billion IPO in 1997 TLS.AX
Prior to Thursday’s plunge, Maas Group shares had risen about 44% over the past 12 months, as investors valued its ties to AI-driven data center construction
Firmus has not immediately responded to Reuters’ request for comment
(US$1 = AU$1.4358)
(To assist non-native English speakers, Reuters has automated the translation of its reports into several other languages. As there may be errors or insufficient context in automated translations, Reuters does not guarantee their accuracy and provides them solely for readers' convenience. Reuters accepts no responsibility for any damage or loss caused by use of automated translation functions.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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