📝 Rate rises

Author

Letter of Intent
February 03, 2023

Good morning. The US raised rates by 0.25%, the UK by 0.50%, Meta beat expectations and Tom Brady retired for the second time. Focusing on the big news of the three, Tom Brady's retirement means he'll earn a cool US$375m over the next 10 years as an analyst for Fox's NFL coverage.

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MARKET MOVERS

*Stock data as of the market close. Commodities and crypto data in USD.

Market news: Not an Aussie stock, but the stocks associated with Adani Group (including the main entity Adani Enterprises) have now lost over $140bn since last week.

Adani, the man himself, was forced to call off a $2.4bn share sale yesterday while reiterating that all is good and that the Hindenburg allegations were incorrect.

Hindenburg had shorted the company, meaning the investor has flipped a quick return of at least ~50%.

TRADING FLOOR

M&A:

  • Murray & Roberts has Houlihan Lokey’s bankers shopping RUC Cementation Mining Contractors. (AFR)

  • ANZ’s run at Domain shows just how long the bank’s wanted to get into the online real estate game. (AFR)

  • Fortitude Investment Partners reloaded its portfoliowith a controlling stake in Aged Care Decisions. (AFR)

  • Bank of Queensland is in early talks over a $10bn-plus merger with Bendigo Adelaide Bank (The Australian)

  • Alinta Energy is understood to be about to fire the starting gun on a sale process for its Pilbara operations. (The Australian)

ECM:

  • Citi’s equities desk was seeking buyers for a $91.2m stake in Paladin Energy. (AFR |The Australian)

  • Cyprium Metals had Canaccord, Euroz and Evolution Capital launch a $25m two-tranche placement. (AFR)

  • Ricca Resources is asking investors to chip into its pre-IPO round as it aims for a listing by June. (AFR)

  • DroneShield launched a raising worth $9m to $11m. (AFR)

VC:

  • iPartners has hired Wilsons for a $20m raising for its investing platform. (AFR)

  • Fingerprint for Success (F4S), an artificial intelligence (AI)-based performance coaching startup has raised $6.5m in a second Seed round led by Investible. (StartupDaily)

  • EnergyLab is backing 11 Australian lithium battery startups in its Supercharge Australia project. (StartupDaily)

Other:

  • Newcrest Mining is coming under pressure from investors to appoint an external candidate to replace its outgoing CEO. (The Australian)

  • Credit Suisse’s Australian wealth management unit bid farewell to team leader Joerg Koeppenkastrop. (AFR)

THE QUICK SYNC

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THE WATERCOOLER

THE TRADE

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