Fermus Australia sets IPO to raise $5 billion
Vermous, an Australian company, is preparing for an initial public offering (IPO) valued at 5 billion Australian dollars (approximately 4.94 billion US dollars), with the aim of raising funds to expand its data centers in Australia and Singapore. There are plans to develop five new centers across Asia and the Pacific. The offering is expected to be the fourth largest global IPO this year and will give the company an enterprise valuation of around 60 billion dollars, after estimating its debts at about 30 billion dollars. The book-building process will begin on October 8 and end on October 13, with the possibility of increasing the allocation to raise an additional 500 million dollars. The company's shares are expected to start trading on the Australian Stock Exchange on October 23.
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