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Firmus $7bn ASX IPO draws attention from hedge funds and short sellers

The IPO bookbuild is set for Oct. 6, and bankers are already contacting institutions ahead of the proposed listing.

Reported · Written up by our desk · Hedge Funds

Australian AI infrastructure company Firmus is preparing for a potentially $7bn listing on the ASX, and hedge funds and other short sellers are reportedly positioning themselves for potential opportunities as trading approaches, according to Hedgeweek citing Capital Brief.

Bankers are sounding out institutional investors ahead of the IPO bookbuild on Oct. 6, as Firmus looks to convert investor enthusiasm and high-profile backing into one of Australia’s largest technology listings in recent years.

The story notes the company is led by co-CEOs Oliver Curtis and Tim Rosenfield and has drawn SpaceX-style comparisons because of the scale of the offering and expectations around growth.

For hedge funds, the listing could also create a chance to bet against the valuation if concerns emerge about the outlook for AI infrastructure demand, with short sellers already holding positions against several related US-listed companies.

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