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  • CFS, CBA ink $460m deal | Business Spectator
    must go further to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu CFS CBA ink 460m deal 18 Dec 2013 10 35 AM DataRoom Mergers Acquisitions Equity Capital Markets Industries Financial Services Property Property trust group to buy bank s integrated retail asset management business You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password By a staff reporter CFS Retail Property Trust Group will pay 460 million to the Commonwealth Bank of Australia to acquire its integrated retail asset management business In a statement to the Australian Securities Exchange CFS said the business provides property management development management and leasing services for CFS owned and co owned properties wholesale property funds and third party mandates CFS will also acquire its responsible entity Commonwealth Managed Investments Ltd from the bank CMIL said the deal will allow it to assume the management of CFS and a number of wholesale property funds and other direct property investment mandates A 280 million fully underwritten institutional placement will be launched today to partly fund the transaction in combination with debt and a security purchase plan Print this page Related articles 09 Jan WRT investors say split costs 1 5 bln too much 09 Jan Triguboff eyes Melbourne expansion 08 Jan GPT eyes new target 07 Jan The rewards of a pragmatic GPT Dexus

    Original URL path: http://www.businessspectator.com.au/news/2013/12/18/property/cfs-cba-ink-460m-deal (2014-01-12)
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  • Geminder upbeat on Pact | Business Spectator
    12 47 AM DataRoom Equity Capital Markets Industries Manufacturing Pact boss remains bullish on packaging group despite disappointing ASX debut You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Pact Group chairman Raphael Geminder has vowed to pursue growth opportunities in Australia and offshore and remain with the business for the long term after the packaging group made an underwhelming debut on the Australian Securities Exchange yesterday Shares in Pact Group opened at 3 50 below their issue price of 3 80 and rose as high as 3 62 before closing sharply lower at 3 32 Almost 19 5 million shares changed hands It adds to the poor performance of recent IPOs including Nine Entertainment and Dick Smith But Mr Geminder said he was pleased with the support the company had received from investors and the market and said he remained committed to maintaining a cornerstone stake in the company after raising 649 million by selling his interest down to 40 per cent I ve committed to holding a meaningful stake to maintain some serious skin in the game without having control or reducing liquidity We are in this business for long term growth he told The Australian yesterday Management is very energised about transitioning the company from a private company to a publicly listed company and we are 100 per cent focused on delivering our half year numbers to the market next year Listing documents released yesterday confirmed that the company had received strong support from a range of institutions including AMP Pact also confirmed that Sydney businessman Gary Wolman owns about 6 3 million shares as part of a deal whereby Pact will acquire his Cinqplast Plastop Australia business and a share in a manufacturing plant in The Philippines Investors have been sceptical about the growth potential for Pact in a highly competitive industry and have questioned its ability to expand into new and ultra competitive offshore markets But Mr Geminder reiterated that the group remained committed to its strategy As rigid packaging continues to experience above industry growth we see continued opportunities for Pact to expand its business with new customers and contracts sensible bolt on acquisitions and regional growth opportunities aligned with our customers interests he said The Pact prospectus claimed that rigid plastics would be the fastest growing segment of the packaging market globally with a demand CAGR compound average growth rate of 5 3 per cent over the next five years In Asia that would be 8 4 per cent The float proceeds will be used primarily to pay down debt and fund further acquisitions as the company looks to expand further into Asia Pact

    Original URL path: http://www.businessspectator.com.au/news/2013/12/18/equity-capital-markets/geminder-upbeat-pact (2014-01-12)
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  • List of IPO debut flops grows | Business Spectator
    Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu List of IPO debut flops grows Amanda Saunders 17 Dec 2013 4 10 PM 1 DataRoom Equity Capital Markets Industries Education Manufacturing Property The past week has seen most IPOs underperform the market on debut since a raft of successful book builds last month You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password In a market awash with IPOS the list of debut flops is getting longer with the latest newcomers Pact Group and GDI Property Group dropping more than 10 per cent on ASX listing today The lacklustre debuts this month come after investors started to show signs of IPO fatigue which could have been partly to blame for the last minute shelving of high profile ASX hopeful BIS Industries The past week has seen most IPOs underperform the market on debut albeit amid a decline in the broader benchmark index since a raft of successful book builds last month The S P ASX 200 has lost about 190 points so far this month Pact closed down 12 6 per cent at 3 32 and real estate investment trust GDI Property Group shed 11 5 per cent to 85 5 cents against a rise of 0 3 per cent in the overall market In defence of Pact s poor debut some industry players said investors were loath to commit ahead of Amcor trading ex Orora tomorrow Brambles Ltd s demerged document management business Recall and pub real estate play Hotel Property Investments have also struggled to gain momentum since listing IPOs launched earlier in December were faring better this week despite many failing to inspire on debut Retailer Dick Smith and Nine Entertainment have held their own against the broader market as have education and training company Vocation and transport and logistics group McAleese Debutantes that have managed to sustain price increases since listing include adult education business Veda childcare roll up Affinity Education Group sports technology firm dorsaVi Ltd and the Industria REIT A further 8 billion in IPOs are expected to come online in the first half of next year Contenders that may hit the ASX boards before March include Pacific Equity Partners Spotless which has annual revenue of 2 7 billion and Healthscope Group Ltd as Carlyle Group and TPG consider a 4 billion IPO of the hospital provider Print this page More from Amanda Saunders 10 Jan Global MnA slips to 3 year low

    Original URL path: http://www.businessspectator.com.au/news/2013/12/17/dataroom/list-ipo-debut-flops-grows (2014-01-12)
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  • Pact Group falls on debut | Business Spectator
    Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Pact Group falls on debut Amanda Saunders 17 Dec 2013 12 29 PM DataRoom Equity Capital Markets Industries Manufacturing The Raphael Geminder chaired packaging empire shed more than 12 per cent You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Raphael Geminder chaired packaging empire Pact Group is struggling to find investor support on its debut shedding over 12 per cent as fellow newcomer GDI Property Group sank 11 5 per cent on its first day Pact dropped 12 6 per cent to 3 32 after listing against a broader benchmark index rise of 0 3 per cent Pact s poor showing follows the shelving last month of former float hopeful BIS Industries with its private equity owners blaming unfavourable sentiment towards the mining services sector Pact priced at 3 80 per share after Credit Suisse and joint lead manager Macquarie raised 649 million in a float last month putting its market capitalisation at 1 12 billion About 57 per cent of Pact s issued equity or 171 million shares was sold Pact has 294 1 million shares including 117 million owned by Melbourne based Geminder The Melbourne billionaire s joint venture partner in Asia Gary Wolman received 10 million shares the roughly 3 per cent not retained by Geminder or offered in the IPO as part of Pact acquiring one of his businesses in the region The pricing represented 8 5 times forecast earnings before interest tax depreciation and amortisation for this year of 202 million Pact came in at 13 4 times based on price to earnings and have an enterprise value of 1 721 billion Print this page More from Amanda Saunders 10 Jan Global MnA slips to 3 year low 10

    Original URL path: http://www.businessspectator.com.au/news/2013/12/17/dataroom/pact-group-falls-debut (2014-01-12)
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  • GDI Property Group drops 11.5% on debut | Business Spectator
    a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu GDI Property Group drops 11 5 on debut Amanda Saunders 17 Dec 2013 12 13 PM DataRoom Equity Capital Markets Industries Property Australia s largest real estate IPO of the year has bucked a broader market rise on its first day You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Australia s largest real estate IPO of the year the 567 6 million float of GDI Property Group has fallen on its debut bucking a broader market rise GDI fell 11 5 per cent to 88 5 cents against a benchmark index increase of 0 3 per cent The disappointing debut comes despite strong demand for GDI s equity raising seen at the time as part of strong market appetite for new property trusts Lead manager Credit Suisse raised 310 million in new equity for the float last month and an additional 256 7 million was allocated to existing investors along with management About 80 per cent of existing unit holders in the GDI syndicates chose to stay in and their purchase of additional stock put the effective rollover rate at 85 to 90 per cent GDI executive chairman Tony Veale and managing director Steve Gillard took a combined 10 5 per cent of the 567 6 million float The GDI Property Group will control about 867 million in assets at listing including directly owned assets of about 680 million The trust will use the proceeds of the raising to bankroll two acquisitions including an office tower on Queen Street in Brisbane valued at 120 million Other properties include 233 Castlereagh Street in Sydney 197 St Georges Terrace and the Mill Green complex in Perth and 25 Grenfell Street in Adelaide GDI lists on the same day as PACT group which Credit Suisse is also running Print this page

    Original URL path: http://www.businessspectator.com.au/news/2013/12/17/dataroom/gdi-property-group-drops-115-debut (2014-01-12)
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  • IAG placement raises $1.2bn | Business Spectator
    up Facebook must go further to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu IAG placement raises 1 2bn 17 Dec 2013 11 09 AM DataRoom Mergers Acquisitions Equity Capital Markets Industries Insurance Shares fall as insurer completes capital raising to help fund acquisition You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password By a staff reporter Insurance Australia Group Ltd has completed its institutional placement raising 1 2 billion in ordinary equity but its share price has slipped on news of an acquisition In a statement to the Australian Securities Exchange IAG said the placement priced at 5 47 per ordinary share raised equity to help fund the purchase of Wesfarmers Ltd s underwriting businesses announced yesterday IAG shares were removed from trading halt this morning and fell 4 12 per cent to 5 465 at 1108 AEDT against a benchmark index rise of 0 71 per cent The insurer intends to offer retail shareholders the chance to participate in a share purchase plan with details set to be made available next month Print this page Related articles 10 Jan Value Investor QBE is still at a premium 10 Jan China s Fosun buys Portuguese insurer in privatisation 06 Jan Why a public asset sell off is on the money 02 Jan IAG boosts catastrophe cover 20

    Original URL path: http://www.businessspectator.com.au/news/2013/12/17/insurance/iag-placement-raises-12bn (2014-01-12)
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  • Ruralco flags $25m equity raising | Business Spectator
    just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Ruralco flags 25m equity raising 17 Dec 2013 10 59 AM DataRoom Mergers Acquisitions Equity Capital Markets Industries Agribusiness Group plans placement to expand geographic presence pursue acquisitions You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password By a staff reporter Ruralco Holdings Ltd announced it will raise 25 million through a fully underwritten institutional placement In a statement to the Australian Securities Exchange Ruralco said proceeds from the equity raising which has an offer price of 3 25 per share will be used to provide financial flexibility for growth Ruralco will use the proceeds to expand its geographic presence by partnering with other businesses build critical mass in sectors it has already diversified into such as grain and water invest in back office functions to improve efficiencies and provide flexibility to pursue other acquisition opportunities that are consistent with its strategy Ruralco affirmed its fiscal 2014 outlook saying it is well placed to return to the underlying profitability levels from fiscal 2011 and 2012 assuming normalisation of seasonal conditions UBS AG Australia branch is sole lead manager and underwriter in relation to the placement Earlier Ruralco shares were placed in trading halt pending the release of the announcement In a statement to the Australian Securities Exchange Ruralco requested a halt until it made an announcement about the placement saying the halt will not last longer than the start of trade on December 18 Ruralco said it is not aware of any reason why the halt

    Original URL path: http://www.businessspectator.com.au/news/2013/12/17/agribusiness/ruralco-flags-25m-equity-raising (2014-01-12)
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  • New bourse in talks for 10 floats | Business Spectator
    National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu New bourse in talks for 10 floats Amanda Saunders 16 Dec 2013 3 42 PM DataRoom Equity Capital Markets Industries Financial Services The Asia Pacific Stock Exchange plans to start trading as soon as February with a debut IPO You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password New Australian bourse the Asia Pacific Stock Exchange APX is in talks with about 10 companies based in China Australia Malaysia and Hong Kong looking to list within a year of its launch The APX which announced earlier plans to bring Chinese companies to the Australian market told DataRoom that trading was expected to start as early as February as soon as it can pin down a debut IPO to launch with Joseph Law a director at APX said the exchange was in discussions with companies for dual listings and growth companies across the agriculture mining hi tech biotech and e commerce sectors The start up bourse is also trying to secure several companies under dual listings Most of the companies were expected to be based in China largely because there were waiting lists for the Shanghai and Shenzhen stock exchanges in China Initially trading on APX will be in Australian dollars In July APX s parent company wholly owned diversified financial services giant AIMS Financial Group said due diligence and regulatory compliance work was being run on Chinese companies in manufacturing logistics and high tech Law declined to comment on which companies were set to list He said an additional six brokers were set to join current approved brokers BBY and CMC Markets The APX would act as a platform for access to Asian capital and a bridge between Australia and China Law said The APX platform will offer opportunities for Australian companies to expand their network and business in Asia especially China CMC Markets head Andy Rogers said the key appeal of APX was that Australia s highly regulated market would apply to Chinese companies listed on the bourse It was also a means for Australian companies to get cheaper access to international markets he said The exchange s 13

    Original URL path: http://www.businessspectator.com.au/news/2013/12/16/dataroom/new-bourse-talks-10-floats (2014-01-12)
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