Good evening,

It’s pens down for Realm’s broker syndicate.

Street Talk understands the private debt manager has received bids of about $450 million for its Dominion Income Trust, exceeding the $300 million maximum offer size. Investors have been told to expect significant scalebacks in their allocations.

Realm’s offer was first launched on January 28 and closed this morning, giving bidders just five days to get in the door.

Read the full story: Realm closes book for credit fund IPO; bids top $450 million

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• Matt Tripp’s Betr raises cash to buy Queensland bookie
• Pemba Capital locks onto cybersecurity play Ctrl

• Private equity-owned Oceania Glass goes bust after 169 years
• Seek walks from Xref after shareholders shock rejection of takeover
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Corporate bookmaker Betr, once backed by News Corp but now an ASX-listed operator, is raising at least $15 million to bankroll an acquisition of TopSport.

A last-minute escalation in the trade war between the United States and China dragged the ASX into the red on Tuesday.

Click here for the latest equity market wrap.