DataRoom AM: Float fatigue

Cover-More's disheartening debut has investors worried about the 2014 IPO market, while the ACCC has concerns about Bluescope Steel’s proposed purchase of Arrium's OneSteel Sheet and Coil business.

The $600 million float of travel insurer Cover-More was yesterday met with as much excitement as tax day, putting another major dampener on the prospect for a strong year for IPOs in 2014. Indeed, there are now six disappointments among the last seven most closely analysed listings and float fatigue is now obvious.

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