Firmus to Give Existing Holders Half of IPO Shares, Report Says

Firmus plans to reserve half of the shares in its upcoming initial public offering for existing holders, according to a Bloomberg report, a move that would give current investors priority in the listing.

In a typical IPO, the bulk of shares is placed with institutional investors, with a smaller portion set aside for retail participants. Allocating such a large block to existing holders is uncommon, and would shape how the deal is distributed. Such a structure would put current shareholders ahead of new investors in the queue for stock, a departure from the usual approach to building an order book.

The approach could help the company lock in a stable shareholder base and reduce the amount of stock available to new buyers at the outset. It may also signal that Firmus wants to reward backers who have held the shares before they reach public markets, though the effect on pricing and demand is not yet clear.

Further details on the offering were not immediately available, and the scale and timetable of any listing have yet to be set out. Investors are likely to watch forthcoming filings for clarity on how the allocation would work and what it means for the float once trading begins.