Pick a side
Is Firmus a bargain or a bubble?
Good morning.
We are seeing two very prominent calls on the same $15.5 billion machine.
Capital Brief brought us Geoff Wilson’s WAM doubling down on Firmus' USD2 billion private raise, shrugging off a 60% mark-up to $230 a share. Shaun Weick reckons the new Batam site triples the run-rate and leaves “substantial upside.”
On the other hand, UniSuper’s John Pearce won’t go anywhere near the Nvidia-backed AI factory builder, unconvinced it can hit its $30 billion revenue target. “Do I see an IPO anytime soon? I doubt it,” Pearce told the AFR. “I don’t think that their non-deal roadshow was well received in Australia.”
“There’s too much about the business we don’t know,” he added.
So, are we backers or sceptics?
| ▼ | ASX 200 | 8,763 | -0.26% |
| ▲ | ASX futures | 8,741 | +0.03% |
| ▲ | S&P 500 | 7,544 | +0.81% |
| ▲ | NASDAQ | 26,207 | +1.30% |
| ▲ | AUD/USD | 0.69 | +0.16% |
| ▲ | Bitcoin | 63,213 | +1.87% |
ASX 200 as at market close. Bitcoin in USD.
Market movers
| ▲ | ASX:FUB | $2.99 | +7.55% |
Shares in Fletcher Building rose on Thursday after the trans-Tasman construction materials group lifted its full-year earnings guidance by about 6.4% to between NZD400 million and NZD403 million. The upgrade was driven by stronger-than-expected property sales and improved volumes across its manufacturing and distribution divisions.
