Firmus bankers consider IPO price cut after weak foreign demand

• Firmus advisers are evaluating a cut to the company's $11 listing price following weak overnight feedback from international investors.
• The offering aims to raise up to $7.9 billion in what could be one of Australia's largest market debuts.
• Underwriters advanced the bookbuilding deadline to Thursday as caution grew over aggressive pricing and potential post-listing share supply.

Bankers managing the initial public offering for Firmus are evaluating a potential cut to the company's listing price after weak demand from foreign investors.

Advisers initiated discussions on Wednesday to lower the original $11 per share target following overnight feedback from international institutions.

The transaction aims to raise as much as $7.9 billion, including the greenshoe option, making it one of the largest market debuts in Australia.

Underwriters moved the close of the bookbuilding process forward from Friday to Thursday after early investor indications exceeded the initial offer size.

Market participants grew cautious over the proposed valuation and potential market supply from existing shareholders following the listing.

The transaction represents a major equity market test as institutional advisers assess broader investor appetite for mega-cap primary listings.