PEXA’s surprise IPO has paved the way for a rush of new listings to get in front of fund managers.
On Monday alone, copper miner 29Metals sent terms for its own $600 million-odd raising and kicked off a management roadshow, while Lumos Diagnostics launched a $60 million deal and Silk Contract Logistics opened its $70 million raising.
On Tuesday, it’ll be bookmaker Blue Bets with a deal at 4.9 times forecast net revenue, while mining services player DRA Global has lobbed a prospectus for its own $240 million float.
Bankers reckon the rush is happening for two reasons: companies need to raise this week if they want to list on audited December 31 numbers, and thanks to PEXA helping improve market sentiment.
The American white knight financier in talks to bankroll the Whyalla steelworks has turned its attention to Australian heavy earthmoving equipment business, National Group.
It’s Fotowatio Renewable Ventures Australian assets’ time in the sun - and finally it should know how much energy there is for a stake in its big platform.
