Good evening,

The IPO window looks to have slammed shut.

Despite the S&P/ASX 200 Index closing at a record high of 7172.8 points to start the week, Luye Group’s Aurora Healthcare followed Australian Venue Co’s lead on Monday evening, pulling its planned initial public offering.

It’s an odd scenario. Fund managers are struggling to put cash to work in a soaring market but have now pretty much downed tools on new listings. Tonight, we take a look at why that’s the case.

Meanwhile, Star Entertainment Group entered the Crown race on Monday morning with a $12 billion nil premium merger proposal. We weigh up its pros and cons.

Finally, indicative bids are due for AMP Capital’s $7 billion flagship office property fund, and Morgan Stanley is giving its retail network the chance to invest alongside some big names.

Happy reading,
Sarah Thompson, Anthony Macdonald and Tim Boyd
Street Talk Editors