Good evening,
 
 

Good evening,

Fund managers just can’t catch a breath at the moment.
They’ve been inundated with float news piled on top of float news all week – and Thursday was no different.

The biggest IPO of the year, KKR-backed non-bank lender Pepper Money, priced its offer on Thursday, seeking to raise $450 million at $2.89 a share, which implied a $1.3 billion market capitalisation.

Meanwhile, Allegro Funds’ Best & Less Group fired off its pre-deal investor education reports, and Luye Group’s Aurora Healthcare had its brokers Bank of America and UBS out trying to lock in cornerstone support for its float. Tonight, we take a look at Best & Less and Aurora.

Elsewhere, bids have landed for Queensland-based lifestyle community owner Halcyon, and the activists are back for another bite at fund manager VGI Partners.

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

 
The Australian Financial Review
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