Big Fine for Tiger Brokers 🐯

Good Morning,

The Taliban have banned women from attending university in Afghanistan, Musk quits as Twitter CEO, The National Party is to hold special meetings after a wave of regional resignations, Tiger Brokers will have to pay a large fine after breaching AML rules and Chinese banks edge out Wall St rivals in Global IPO rankings.

Let's jump in.

Before The Bell

News Summary

• Elon Musk has decided to step down as CEO of Twitter (BBC)

• The New Zealand National Party will hold a special meeting after a wave of regional resignations (Herald)

• NZ broking firm Tiger Brokers in line for a $900,000 fine after AML/CFT breaches (NBR)

• The top underwriters in 2022 were Chinese banks, outpacing their Wall Street rivals (BBG)

• Businesses expect China to lift their trade bans quietly but slowly (AFR)

Deal Flow

Investments/ M&A

• Lines company Vector has sold half of its metering business for NZD$1.7 billion to Queensland investment manager QIC (NBR)

• Peter Masfen has taken a significant stake in listed Kiwifruit company Seeka (NBR)

• MHM Automation to acquire Wyma for NZD$60 million (NBR)

• Palisade Investment and Aware Super have bought Stockyard Hill Windfarm (AFR)

Equity Raises

• Sparks Energy nears deal to go public with 10x SPAC (BBG)

We'll be taking a break for the holiday period but look out for our return on January 9th 2023!

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