Jul 8, 2026 – 6.31pmFirmus Technologies is inches away from hauling in $US2 billion ($2.9 billion) of fresh equity to bankroll spending for its Australian assets, in a deal that has lifted the IPO hopeful’s valuation to $15.5 billion.Street Talk can reveal Firmus on Wednesday called an extraordinary general meeting for July 31, asking existing shareholders to vote on its biggest equity raising to date. Preference shares were offered at $230 apiece, giving the company an equity value of $15.5 billion on a post-money basis.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
AI factory hotshot Firmus set to raise $US2b; calls investor meeting
Of note, sources said the latest fund-raising round’s valuation does not include any revenue that is expected to be generated by its big Indonesian play announced recently.
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