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Firmus and PLDT pulled data center IPOs this week while governments pressed pause on development in the latest hurdles to Asia’s data center boom.
Asia-Pacific's hectic data center rollout has hit a series of speed bumps. The most dramatic by far was the collapse Friday of Australian-based Firmus’ planned AU$7.1 billion (US$4.97 billion) IPO, which had been expected to be the biggest ASX debut since Telstra’s 1997 IPO.
Firmus, a neocloud company whose shareholders include Blackstone, Jane Street and Nvidia, withdrew its ASX listing application Friday and said it would seek up to $3 billion through private fund-raising, the Financial Times has reported.
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