BREAKFAST DEALS: Genworth fillip

The IPO market looks to be getting a boost at long last, both here and across the Tasman.

You wouldn’t bet the house on it, but the tentatively positive signs stemming from the Greek debt deal negotiations enhances the argument that maybe, just maybe, Europe can crawl its way out of its present situation. The possibility of a eurozone collapse is something the IPO market does not take lightly, with investors and investment bankers hoping that the markets can calm down long enough to get some floats away. News that Genworth Financial is still looking at the second quarter for the IPO of its Australian arm will surely be encouraging, particularly after reports that CLP Holdings still thinks 2012 is the year for TRUenergy. Meanwhile, Business Spectator could be snapped up by any one of up to five domestic or international players if the price is right; Rio Tinto is laying down the law to now majority-owned Ivanhoe Mines; Spotless Group directors are staying silent after a crucially-timed board meeting and Woodside Petroleum isn’t selling down its Browse LNG stake as hard as first thought.

Genworth Financial

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