Trading terms reveal that data center operator Firmus Grid plans to conduct its initial public offering (IPO) in Australia this month, with a target valuation of 43.7 billion Australian dollars, which is equivalent to 30.3 billion US dollars.

The terms document shows that the company IPO has set its issue price at A$11 per share, with plans to raise at least $5 billion. Bookbuilding will commence on October 6 and conclude on October 9, except in cases where the issuance process is accelerated.

Data shows that Firmus's listing this time is expected to become one of the largest IPO listings in Australian history, on par with the issuance of a private company in 2014, which raised just under $5 billion. This will be a boost for Australia's primary market: in the past two years, Australian IPO offerings have raised over $2 billion each, while so far this year, the amount raised is only slightly over $1 billion.

This data center operator has signed large-scale contracts with several well-known major clients in order to seize the market demand brought about by artificial intelligence. In August, the company received investment commitments totaling $2 billion from investors such as Jianjie Capital, Blackstone Group, and NVIDIA, and in April, it completed a financing round of $505 million led by a company managed by Coatue.

The company plans to list on the Australian Securities Exchange on October 23. Bank of America Securities, JPMorgan Chase, Morgan Stanley, and Morgans Financial Limited act as the joint lead underwriters for this issuance.