It feels like there’s one more week until the 2022 show really gets on the road.
From what Street Talk could tell at the weekend, big-name bankers and fund managers were hiding out at holiday houses, keen to get a few more days of summer before really sinking their teeth into 2022.
Australia Day ensures this week is disrupted, while equity market conditions are also uncertain following Friday’s drop and a soft start to 2022.
Nevertheless, we’ve found some interesting ideas being worked up. One of them is from someone who’s seldom been described as boring; former Domain Group boss Antony Catalano.
Catalano and his backer Alex Waislitz are mulling plans to get their community newspapers and real estate assets group on the ASX boards, via a backdoor listing into PRT Company.
PRT Company is the former Prime Media Group, and the entity responsible for distributing cash to Prime shareholders following an asset sale deal with Seven West Media that completed on December 31.
While PRT Company can distribute its cash to investors (which include Catalano and Waislitz’s entity WA Chess), it has a stack of tax losses that would disappear on winding up.
It is understood Catalano and Waislitz want to get their hands on PRT and its tax losses, and use it to launch their private media group on to the ASX.
Media proprietor Antony Catalano and backer Alex Waislitz are considering taking their regional newspapers and real estate classifieds businesses to the ASX boards in an ambitious plan involving what was Prime Media Group.
Special situations and private capital firm Sixth Street Capital is understood to be pulling the pin on its Australian office, to refocus on investment opportunities elsewhere.
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