Major share market float in trouble as interest in Firmus wanes

Key points

• The anticipated ASX debut of data centre operator Firmus faces significant hurdles, with investment banks halting bids and concerns over its valuation and debt levels. Analysts have questioned the firm's financial health and the sudden increase in its market value.
• Goldman Sachs reportedly stepped in to prevent the IPO's collapse, while market participants criticised the float's roadshow for lacking detail.
• The company's planned data centres in Tasmania could strain local energy infrastructure, raising further concerns about its ambitious expansion plans.