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Reuters, October 8 – On Thursday, Maas Group's (MGH.AX) shares plummeted by as much as 30% following reports that Nvidia (NVDA.O)-backed AI company Firmus is considering adjusting the terms of its much-anticipated $5 billion IPO. The stock fell to AUD 4.47, marking its largest intraday drop and the lowest point since May 6, wiping about AUD 694 million ($483.37 million) off the construction services company’s market capitalization. Key details: - Maas holds a 3.2% stake in the data center operator and had previously pledged an additional AUD 300 million at a per-share price of AUD 230 for both common and preferred stock earlier in August (link). - In an exchange filing, Maas stated that speculation about whether the IPO would proceed as scheduled has put market sentiment under pressure and added that it is not aware of any undisclosed information to explain the trading situation. - Firmus lists OpenAI as an anchor customer and is preparing what would be the second-largest IPO in Australian history (link). Reports earlier this week suggested the company might lower its offering price from AUD 11 per share. - If this listing proceeds smoothly, it would be Australia’s largest IPO in nearly 30 years, second only to the approximately $10 billion IPO by leading telecom operator Telstra (TLS.AX) in 1997. - Prior to Thursday’s sharp drop, Maas Group’s shares had already risen about 44% over the past 12 months, with investors valuing its link to AI-driven data center construction. - Firmus has not yet responded to Reuters’ request for comment. ($1 = AUD 1.4358) (For the convenience of non-English speakers, Reuters provides its reports through automated translation in several other languages. Due to possible inaccuracies or lack of proper context, Reuters does not guarantee the accuracy of automated translations and provides these solely for reader convenience. Reuters assumes no responsibility for any damage or losses arising from the use of automated translation functions.)

According to sources familiar with the matter, Solidigm, the flash memory subsidiary of SK hynix (SKHY.US), has selected the lead banks for its planned US IPO next year, with Goldman Sachs and Morgan Stanley responsible for the offering.

KS Industry held an extraordinary shareholder meeting on Oct. 8, 2026. Shareholders passed resolutions to appoint Kim In-gyeom as an internal director. Approval was also secured to appoint Chen Yang as an internal director. Resolutions to appoint Kim Woo-joon, Cha Haeng-jeon as independent directors were adopted. The votes authorized these board appointments; the filing did not confirm the appointments have been implemented. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. KS Industry Co. Ltd. published the original content used to generate this news brief via DART, the regulatory disclosure system operated by the South Korea Financial Supervisory Service (FSS) (Ref. ID: 20261008900252), on October 08, 2026, and is solely responsible for the information contained therein.

Pfizer (PFE.US) announced on Wednesday that the U.S. Food and Drug Administration (FDA) has approved its tyrosine kinase inhibitor, Tukysa (tucatinib), as part of a combination regimen for first-line maintenance treatment of a certain type of breast cancer.