It's only Thursday night, but already we're looking forward to next week. There's a bunch of IPO contenders that'll be pitching funds — at least six already in investors' diaries — and a couple of new names have popped onto Street Talk's radar.
Meanwhile, we take a look at equity capital markets, where placements are under pressure. The raising structure that recapitalised corporate Australia has fallen out of favour, with a bunch of recent deals trading under water. Hot money funds have noticed — and will be asking for bigger discounts and/or higher fees to sub-underwrite deals next time around.
It's one week since Deloitte collected bids for Melbourne stockbroker EL&C Baillieu and attention has turned to rival firm Ord Minnett as the most likely buyer.