Australia's Firmus raises $4.94B in IPO, pricing shares at US$7.12

What's the deal? Australia's Firmus priced its initial public offering at US$7.12 per share to raise US$4.59B, according to a term sheet. The listing ranks among the largest Australian offerings in recent memory.

Why now? The pricing comes as companies move to tap investor appetite for new listings, with Firmus opting to go public rather than extend private fundraising.

The signal: A near-$5 billion offering signals renewed confidence in large-cap IPOs and could encourage other Australian companies to test public markets.

Read more: afr.com

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