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- ☕ More Adani
☕ More Adani
Good morning. It's been about a month since the short seller attack on Adani, with the group of companies losing about US$145bn in value. But the drama continues.
Good morning. It's been about a month since the short seller attack on Adani, with the group of companies losing about US$145bn in value. But the drama continues.
Adani Enterprises (one of the main entities) popped 32% in the last 2 days after rumours it secured $3bn of debt from a sovereign wealth fund — a rumour the company denied after markets closed last night.
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MARKET MOVERS
*Stock data as of the market close. Commodities and crypto data in USD.
Market news: Cluey, the school tutoring company, is firmly on that struggle (school) bus launching an $11m capital raising at 15c a share — that's a 38% discount to last close and 85% lower than its 52W high.
The company reckons the cash will get them to profitability. Together with a raising they did in 2021, the company will have raised about $25m, yet trades with a market cap of just $33m.
THE QUICK SYNC
Why pub king Bruce Mathieson raided Star casino shares (SMH)
Trains collide in Greece, at least 36 killed, dozens injured. (Reuters)
Investment banking undergoing change as boutiques like Rothschild and Canaccord plan to go private and CS markets its investment bank as a “super boutique” (AFR)
Goldmans hints at considering “strategic alternatives” for its consumer business. (AFR)
Westpac CEO says Macquarie has become a “big” player in the mortgage market (AFR)
Channing Tatum has turned Magic Mike into a $180m side hustle. (SMH)
Days are numbered for the daily mail under Australia Post shake-up. (AFR)
Daughter of Melbourne billionaire John Gandel is suing over defects with her dream home. (Australian)
TRADING FLOOR
M&A:
Star confirmed Bruce Mathieson has built a 9.97% stake in the company. (AFR)
Downer EDI has added Downer’s Mineral Technologies business to the non-core assets sale. (AFR)
Toll Global, LinFox, and Lindsay Australia were understood to be in diligence and likely to lob bids for Scott’s Refrigerated. (AFR)
Yancoal is keen on buying two QLD coal mines being offloaded by BHP. (AFR)
Webuild is struggling to keep workers after Clough's acquisition. (AFR)
Newcrest Mining’s Telfer gold operation could be sold to Greatland Gold. (The Australian)
Tyro's bank business may prove to be a challenge for Potentia given the regulatory approvals as they continue their takeover DD. (AFR)
Kraft Heinz is understood to have paused the ANZ sale process due to the severe flooding across the Tasman. (The Australian)
Capital Markets:
Retail Food Group has put a $45m raising to investors. (AFR | The Australian)
KMD Storage Trust is rattling the tin for equity funding. (AFR)
Matrix Composites & Engineering Limited is asking for a $20.2m cash injection; Cluey is drumming up interest for a $10.6m raising. (AFR)
La Trobe Financial has told investors to get ready for an RMBS deal. (AFR)
NAB raised $1.25 billion via 10-year Tier 2 notes. (AFR)
Telstra is set to raise $650m via an Australian bond raise. (The Australian)
VC:
Unyoked, a sustainable, nature-focused off-grid cabin startup, has raised $28m. (SmartCompany)
Others:
TOGETHER WITH ALLIANCE ADVISORS
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The winner will be drawn on Friday 10th March.
THE WATERCOOLER
THE TRADE
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