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Business · Updated 29 Oct, 10:43 am IST

Australia's corporate regulator reviews failed $5bn Firmus IPO

Image: ET Tech

Why it matters for readers: It matters because a huge tech IPO collapsing can reveal problems in how big share sales are marketed and managed.

  • ASIC said it is reviewing media reports and has engaged with the joint lead managers of the aborted IPO.1
  • Firmus's planned IPO collapsed on October 9 after it failed to gain sufficient investor backing.1
  • The deal was to raise $5 billion and would have valued Firmus at about $30.6 billion after a private funding round in August.1
  • The IPO's joint lead managers were Bank of America, JPMorgan, Morgan Stanley and brokerage Morgans.1
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