Data center operator Firmus Grid Ltd. is looking to raise at least $5 billion in an initial public offering, according to terms of the deal seen by Bloomberg, kicking off one of the biggest-ever listings in Australia. The deal includes an overallotment option of as much as 10% of the base offering. The company is targeting an ASX debut on Oct. 26, the terms show.

Bookbuild will run Oct. 6 to Oct. 7, with the retail offering from Oct. 12 to Oct. 19.