“The board therefore concluded that proceeding with the offer was not in the best interests of the company and its shareholders.”
The ASX listing was originally planned for October 23.
The Firmus website says its mission is to build the most energy-efficient artificial intelligence (AI) infrastructure.
“Our AI Factory platform, from cooling systems to grid orchestration software, was built to stay ahead of AI’s infrastructure and energy realities,” it says.
Salt Funds managing director Matt Goodson told the Herald on Thursday that rising bond yields had put the AI/data centre sector under pressure.
“If you look at the broader sector over the last few weeks, the quality listed players like Goodman Group, Infratil and Next DC have all been quite weak, chiefly under pressure from rising bond yields,” Goodson said.
“Effectively these are very long duration property assets in many ways with very attractive yields on development, so rising bond yields has been the thing weighing on the sector.”
Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.
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