Maas Group Holdings experienced its largest weekly share price decline, falling over 31% after the collapse of the Firmus Grid IPO. The total market value loss for the Australian infrastructure firm reached approximately AUD 788 million by the end of the week.
Firmus Grid, an AI infrastructure company backed by Nvidia, withdrew its application for an ASX listing on October 9, 2026. The company cited market volatility and insufficient demand as reasons for the cancellation of the offering, which aimed to raise between AUD 5 billion and AUD 7 billion.
Maas holds a 3.2% stake in Firmus, following a AUD 300 million investment in August 2026. Additionally, the company has AUD 1.1 billion in work orders for Firmus through its JLE subsidiary, with AUD 373 million already invoiced.
The stock of Maas Group Holdings fell 22.4% on October 8, resulting in a market capitalization loss of AUD 517 million in a single session. The company also implemented a trading halt on October 8 and 9 during the developments.
