In today’s briefing:
- Steadfast Group Placement – While Accretion Here Is Limited, Past Deals Have Done Well
- Karoon Energy Placement – Not Well Flagged but Will Be an Accretive One
Steadfast Group Placement – While Accretion Here Is Limited, Past Deals Have Done Well
- Steadfast (SDF AU) is looking to raise around A$280m (US$180m) to fund the acquisition of Sure Insurance, and provide headroom for potentially additional acquisitions over the year.
- SDF has undertaken a number of capital raises in the past to similarly fund its active acquisition strategy. Overall, the firm’s past deal record has been strong.
- In this note, we will talk about the acquisition and run the deal through our ECM framework.
Karoon Energy Placement – Not Well Flagged but Will Be an Accretive One
- Karoon Energy Ltd (KAR AU) seeks to raise approximately A$170m (US$110m) through its primary placement.
- The deal is a large one to digest at 28.5 days of three month ADV and 14.1% of current mcap.
- In this note, we will talk about the placement and run the deal through our ECM framework.
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