AI infrastructure REIT company Fermi (FRMI.US) IPO prices at $18-22 per share, aiming to raise $500 million in a dual listing in the US and UK.

Zhitong Finance APP learned that Fermi (FRMI.US), a Texas real estate investment trust (REIT) focused on developing artificial intelligence (AI) for electricity and data center infrastructure, announced the specific terms of its initial public offering (IPO) on Wednesday. The company plans to achieve a dual listing on the Nasdaq Stock Exchange and the London Stock Exchange. Based in Amarillo, Texas, the company intends to raise $500 million by issuing 25 million shares of stock at a price range of $18 to $22 per share. At the midpoint of the price range, Fermi's market value would reach $13 billion.