Firmus IPO collapse triggers ASIC probe request

• Liberal Senator Dave Sharma asked ASIC to look into the failed $43.7 billion Firmus IPO.
• Maas Group shares fell over 40% following the withdrawal of the Firmus public offering.
• Questions arose regarding pre-IPO demand claims and a previously undisclosed termination of a data centre deal.

Liberal Senator Dave Sharma has asked ASIC to investigate the failed $43.7 billion Firmus float and related investor disclosures.

The abrupt withdrawal occurred on Oct. 8 after Firmus failed to secure sufficient support from prospective investors.

Sharma raised questions about the conduct of the bookbuild, including bankers’ claims of indicative demand at $11 per share.

He also highlighted the previously undisclosed termination of Firmus’ agreement with CDC Data Centres.

Following the announcement, the Maas Group (ASX:MGH) share price was down over 40 to $3.67.

Sharma serves as a member of the parliamentary committee that oversees the financial regulator.

Maas Group investors were reportedly affected during the process due to questions surrounding whether adequate information was provided to the market.