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NZX sleeps while capital raisers and dealmakers run wild

Author

Will Tate-Davis
July 25, 2025

Good Morning,

NZX boss exits as market holds steady, US tariffs cloud export outlook, BHP and Qantas draw AI-themed coverage, EY bulks up energy team amid M&A frenzy, Titomic hunts $50m from institutions, SoftBank-backed InMobi eyes $1b IPO, Fonterra melts hope on butter prices, BP walks from $54b hydrogen project, and civil contractors get PM's vote of confidence — all while an Aussie woman with $130k in degrees wonders if she should’ve picked up tools instead of debt.

Anyway, let’s talk about the big-time trade.

Before The Bell

Markets

  • NZX boss Mark Peterson resigns (NBR)

  • US tariffs could reduce global demand for NZ exports, RBNZ says (NBR)

  • Attention goes offshore as NZ sharemarket steady (GR)

  • Baptista initiates on BHP, CSL and Qantas – with a big whiff of AI (AFR)

  • Dash for Trash- plenty more on US market news here! (Exec Sum)

News Summary

  • Fonterra boss rejects idea of discounted butter prices for New Zealanders (RNZ)

  • Gumboot Friday leaves $1m unspent, but minister is confident it can grow (Stuff)

  • No symptoms. No warning. How a woman’s cancer was found - and how a stranger might save her (Stuff)

  • L.A.B and Stan Walker to kick off summer tour in Tauranga this December (Herald)

  • Civil contracting future ‘bright’, PM Christopher Luxon tells Tauranga conference (Herald)

  • The bold plan to turn Northland into an economic powerhouse (NBR)

  • ‘We faced hunger before, but never like this’: skeletal children fill hospital wards as starvation grips Gaza (Guardian)

  • Thailand-Cambodia border dispute live: Thailand closes border with Cambodia as death toll from fighting rises (Guardian)

  • Tesla profit plunges in latest quarter as Musk’s turn to politics continues to keep buyers away (Stuff)

  • Dozens feared dead as plane with 49 people on board crashes in Russia (9 News)

  • The secret to life in the world's best cities (BBC)

Deal Flow

Investments / M&A

  • New Zealand needs to act quickly on domestic SAF plant- Boeing (NBR)

  • UBCO investors acquire assets from receivers (NBR)

  • BP ditches $54b Pilbara hydrogen project (AFR)

  • Sale flyer for $2.5b Sydney Desal hits inboxes (AFR)

  • Barrenjoey revalued Rokt holdings up 28pc, citing earnings surge (AFR)

  • Make way for EY’s energy transition team amid deal frenzy (AFR)

  • Sony explores sale of cellular chipsets business, sources say (RT)

  • Dubai's Sidara weighs lowering Wood Group offer after UK regulator's probe, FT reports (RT)

  • Torrent Is Said in Talks to Buy L&T’s Power Unit for $1 Billion (BBG)

VC & Fundraising

  • SoftBank-Backed InMobi Is Said to Aim for $1 Billion India IPO (BBG)

  • Todd Boehly-Backed Accelerant, Holders Raise $724 Million in IPO (BBG)

  • Publisher McGraw Hill raises $415 million in US IPO (RT)

  • Medtech startup HealthLab raises $2m for US expansion (NBR)

Equity Raises

  • Metal manufacturer Titomic taps brokers for $50m raise (AFR)

Daily Picks

  • An Australian woman has $130,000 worth of degrees, but says tradies are better off (Stuff)

  • Dash for Trash- plenty more on US market news here! (Exec Sum)

The Daily Deck is sponsored by Industrial Equity, LLC

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