UPDATE 1-KKR-backed Pepper Money plans to raise $389 mln in Australia s biggest IPO of year Reuters 6 hrs ago
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By Shruti Sonal
May 7 (Reuters) - Private-equity firm KKR-backed Pepper Money plans to raise about A$500.1 million ($389.38 million) in Australia s biggest initial public offering of the year so far, valuing the non-banking lender at A$1.3 billion.
The listing plan comes as near-zero borrowing costs and rebounding investor confidence spark hopes of record deals in merger and acquisition activity this year, leading to a jump in initial public offerings (IPOs) in Australia.
Pepper Money, which provides home loans and commercial real estate loans in Australia and New Zealand, also plans to capitalise on the rebound in jobs and the housing market.
UPDATE 3-National Australia Bank doubles dividend, shakes off COVID profit hit Reuters 5/5/2021 Doubles interim dividend of 60 cents/share, beating expectations
Popular Searches H1 cash profit soars nearly 95% to A$3.3 bln (Updates with CEO comments to reporters)
By Paulina Duran and Shashwat Awasthi
SYDNEY/BENGALURU, May 6 (Reuters) - National Australia Bank Ltd on Thursday doubled its dividend and promised higher capital returns to come as Australia s rapid economic recovery enabled it to move funds set aside for potential COVID-19 losses back into profit.
Australia s third-largest bank, which this time last year was raising billions in new shares, promised to give capital back and reduce share count as the country s lenders benefit from low COVID-19 case numbers and massive government stimulus.
National Australia Bank first-half cash profit soars 95% Reuters 5/5/2021
May 6 (Reuters) - National Australia Bank Ltd reported a 95% surge in first-half cash profit on Thursday as a rapid economic recovery encouraged the country s third-biggest lender to reverse provisions set aside for likely bad debt due to the pandemic.
Cash profit came in at A$3.34 billion ($2.59 billion) for the half year compared with A$1.72 billion a year earlier, beating an estimate of A$3.05 billion according to a Reuters poll. ($1 = 1.2908 Australian dollars) (Reporting by Shashwat Awasthi and Shruti Sonal in Bengaluru; Editing by Sriraj Kalluvila)
By Reuters Staff
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FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann
(Reuters) - An Australian state planning commission on Monday approved an extension to Glencore Plc’s Mangoola coal mine in the Upper Hunter Valley of New South Wales.
The commission’s decision comes ahead of a byelection on May 22 for the Upper Hunter seat in the New South Wales state parliament, in which the future of coal mining in the region is likely to be a key issue.
The project has been opposed due to concerns about air quality, biodiversity, greenhouse gas emissions, impacts on water resources and Aboriginal cultural heritage, among others.