Australia

Nine Entertainment to raise AUD643 million in Australia's second-biggest IPO this year

Nine Entertainment Co., Australia's second-largest media company, seeks to raise AUD643 million (USD582 million) in its initial public offering. If successful, the deal could give Nine a market capitalization of AUD1.93 billion.

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Australian carrier Qantas considers stake sale -report

If the Australian federal government does not boost Qantas Airways Ltd's credit ratings, the national carrier may sell its shares in its frequent flyer division or Jetstar's Asian arm, the Australian Financial Review (AFR) reported.

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Australia's Dick Smith lifts on debut after USD315 million IPO

The shares of Australia-based electronics seller Dick Smith Holdings Ltd lifted on its debut on Wednesday after securing USD315 million in its initial public offering.

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Sime Darby purchases 70% stake in Australian car dealer

Malaysian conglomerate Sime Darby Bhd announced that it has agreed to purchase a 70% stake in Australian car dealer Brisbane BMW Unit Trust and LMM Holdings Pty Ltd for AUD22.7 million (USD20.75 million).

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Queensland sells USD350 million of Aurizon stake

The government of Queensland has exited its 74.3 million shares worth USD350 million in the formerly state-owned coal and bulk freight rail company Aurizon, reducing its stake in the firm to under 5%.

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Qantas chief rules out capital raising for Australia's national carrier

Alan Joyce, chief executive of Qantas Airways Ltd, has ruled out Australia's national carrier raising fresh capital to compete with arch-rival Virgin, saying the airline still has a lot of flexibility.

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US web app Swarm Mobile bags USD3.5 million to track shoppers in brick and mortar stores

San Francisco-based web app Swarm Mobile raised around USD3.5 million to develop technology that can track in-store shoppers through their smartphones to help physical stores compete with e-commerce retailers.

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PM Tony Abbott says Australia may acquire stake in Qantas

Australian Prime Minister Tony Abbott said today the government may purchase a stake in Qantas Airways to help the troubled carrier compete with better-financed rivals.

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Australia's Elysium Resources closes Burraga Copper takeover

Sydney-based gold and copper mining exploration firm Elysium Resources Ltd has successfully completed its takeover offer for unlisted Burraga Copper Ltd in New South Wales.

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GrainCorp chief heads for Coke bottler after Australia rejects ADM takeover

GrainCorp Ltd chief executive Alison Watkins has resigned just days after the Australian government rejected a takeover offer from US agricultural giant Archer Daniels Midland Inc, and will head the Coca-Cola Amatil Ltd starting March.

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Australia's Primary Health Care to bring down loan interest costs in a AUD 1.25 billion refinancing agreement- sources

Sydney-based medical services provider Primary Health Care is cutting down loan interest costs on a AUD 1.25 billion refinancing agreement, according to sources interviewed by Bloomberg.

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Global Infrastructure to exit Brisbane port stake to Cassie for AUD1 billion

Global Infrastructure Partners will sell its 27% stake in the Port of Brisbane to Cassie de Depot et Placement du Quebec for AUD1 billion (USD908 million). Cassie is the second-biggest pension fund in Canada.

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IDP Eductaion mulls 2014 IPO in Australia

Australia-based IDP Education, the world's largest provider of international student placement, is considering the sale of its shares through an initial public offering (IPO) in 2014.

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Australian fashion retailer Specialty eyes Rivers expansion after USD5 million buyout

Specialty Fashion Group, the biggest women's fashion seller in Australia, bought the Rivers clothing brand for USD5 million and plans to increase the number the Rivers outlets from 160 to 220.

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Australia's Bis Industries defers planned IPO

Bis Industries on Wednesday announced that it has scrapped its planned initial public offering. The KKR-backed Australian logistics company had been looking to raise AUD500 million (USD456 million) in the IPO.

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