Maas Group Holdings-backed (ASX:MGH) Firmus Technologies priced its initial public offering at AU$11 per share, according to multiple media reports on Thursday, citing a term sheet.

The pricing values the company's equity at AU$43.7 billion, which would make it the second-largest IPO in Australian history, The Australian said in its report.

Bidding opens on Oct. 6 and closes by the following Friday, with indicative offers already exceeding the AU$7.2 billion deal size, and an over-allotment option of AU$700 million may be added, according to the reports.

Firmus will list on Oct. 23 on the Australian bourse, and is expected to carry about $30 billion of debt, implying an enterprise value of roughly $60 billion, according to media reports.

Firmus did not immediately respond to MT Newswires' request for comment.