SocietyOne seeks IPO backers; Olive oil owner cooks up float; Late play for AMP Capital arm

Good evening,

A week’s a long time in capital markets.

On Monday, the benchmark S&P/ASX200 was at a record, but investors had rejected float candidates including KKR’s pubs group AVC and private hospitals owner Aurora Healthcare and we were talking about the IPO market freezing over.

A few days later, the market’s come off and the floats are back on!

This time it’s SocietyOne, which is readying investors for a $60 million raising in a deal to kick off next week, and olives and olive oil group Boundary Bend.

We can reveal Boundary Bend has tapped three brokers for a $500 million-odd float targeted for the second half of this year – and is even asking shareholders to approve a name change now so that it can come to the boards as Cobram Estate Olives Ltd.

Elsewhere, we have news of a new tyre kicker trying to grab a piece of AMP Capital’s public markets business.

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