由 Carmeli Argana Maas Group Holdings Ltd. 的市值因 Firmus Grid Ltd. 首次公开募股（IPO）失败而损失超过 10 亿澳元（6.99 亿美元），股价在 Jefferies Financial Group Inc. 下调评级后连续第五日下跌。
Group Holdings Ltd. has lost more than A$1 billion ($699 million) in market value as Firmus Grid Ltd.’s initial public offering unraveled, with the shares extending their decline to a fifth day after Jefferies Financial Group Inc. downgraded its rating.
澳大利亚建筑公司股价周一一度下跌 14%，五日累计跌幅达 42%。Jefferies 分析师将该股评级从 "买入" 下调至 "持有"，并下调盈利预测，称因 Firmus IPO 失败导致不确定性加剧。
Shares of the Australian construction company dropped as much as 14% Monday, taking their five-day decline to 42%. Analysts at Jefferies cut their recommendation on the stock to hold from buy and lowered earnings forecasts, citing heightened uncertainty from the failed Firmus IPO.
Maas Group 既是 Firmus 的投资者也是承包商，在过去一周成为其代名词，因其筹集高达 55 亿美元的努力告吹。该公司通过其 JLE 部门为 Firmus 建造模块化电力柜，并重申将在 2027 年底前完成工作订单。截至 8 月，Maas 持有 Firmus 3.2% 的股权。"我们认为，风险已加剧，" Jefferies 分析师团队负责人 John Campbell 在报告中写道。IPO 失败对 Maas 在盈利和 Firmus 股权投资方面均产生 "高度影响"，加剧了对推出放缓的担忧。
Maas Group, which is both an investor and contractor for Firmus, has become a proxy for the data center operator in the last week as its efforts to raise as much as $5.5 billion collapsed. The company builds modular power cubes for Firmus through its JLE unit and reaffirmed its expectations to complete work orders by the end of 2027. It held a 3.2% interest in Firmus as of August. “In our view, risks have amplified,” wrote Jefferies analysts led by John Campbell in a note. The IPO failure is a “highly impactful” event for Maas across both its earnings and equity investment in Firmus, increasing concerns of a slower rollout, they added.
Jefferies 还将 Maas Group 的目标价从 7 澳元下调至 4.85 澳元，并下调其 2029 财年前的盈利和收入预期。此外，该经纪公司将 Maas Group 对 Firmus 持股的假设价值从 4.1 亿澳元下调至 3 亿澳元。
Jefferies also lowered its price target on the stock to A$4.85 apiece from A$7 and reduced its earnings and revenue estimates for the fiscal years through 2029. The broker also slashed the assumed value of Maas Group’s Firmus stake to A$300 million from A$410 million.
知情人士透露，Firmus 正在探索通过私募融资筹集最高 30 亿美元的方案，因离岸投资者需求枯竭，该公司周五撤回了澳大利亚上市申请，原本这将是澳大利亚历史上规模最大的首次公开募股之一。
Firmus is exploring options to raise as much as $3 billion in a private funding round after pulling its IPO plans, people familiar with the matter have said. It abandoned its Australian listing application on Friday as demand from offshore investors dried up for what would have been one of Australia’s largest ever debuts.