Good evening,

There was one thing missing from Macquarie’s annual Australia conference this year, which launched on Tuesday.

Traditionally, Macquarie tees up a dinner with five or so IPO contenders and some fund managers the night before official proceedings kick off, to give the fundies a sneak peak at what’s in the float pipeline and start the courting process.

However this year, the IPO class of 2021 was nowhere to be seen. Despite that, Macquarie was still in the market with the biggest deal/float of the day on Tuesday – sending off terms for edtech Keypath Education’s potential listing, which valued it at up to $1 billion.

In other deal news, tonight we take a look at what’s going on in the NSW government’s potential multibillion-dollar lotteries revenue securitisation.

Meanwhile, bids are due in New Energy Solar’s Australian solar farm auction, and there’s another diagnostic imaging deal brewing – this time a NSW/Victorian radiology group.

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