Australia's Maas Group slumps nearly 30% this week after Firmus IPO saga
09/10/2026 02:18
BUZZ-Australia's Maas Group slumps nearly 30% this week after Firmus IPO saga ** Shares of Australia's Maas Group MGH.AX down over 27% so far this week, on track for their worst week, if losses hold
** Investor concerns grew on Thursday after media reports surfaced citing Nvidia-backed Firmus may cut the size of its $5 billion Australian IPO, which drove a 30% plunge in shares of construction services provider MGH
** MGH owns a 3.2% stake in the AI data centre operator
** MGH entered a trading halt on Friday, pending an announcement related to Firmus, which has shelved its $5 billion listing plan, citing market volatility and conditions
** YTD, stock was down more than 8%, before it went on a trading halt
(Reporting by Aamir Sheik Khalid in Bengaluru)
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