Aurora Healthcare Postpones IPO Set to Be Australia’s Second-Biggest This Year

Aurora Healthcare Australia Ltd. has delayed its Sydney initial public offering after the private hospital operator couldn’t generate enough investor demand, according to a person familiar with the matter.

The company halted its first-time share sale on lackluster investor response after launching the deal a week ago, said the person, who asked not to be identified as the discussions are private. The offering could have raised as much as A$415 million ($327 million) for the company and its shareholder Healthe Care Australia Pty Ltd., a subsidiary of Luye Medical Group.

At A$415 million, Aurora’s IPO could have been the year’s second-biggest in Australia, behind Pepper Money Ltd.’s A$500 million offering, according to data compiled by Bloomberg.

Aurora’s withdrawal is the second this week in Australia after Australian Venue Co., a KKR & Co.-backed pub operator, shelved its A$352 million IPO, Bloomberg News has reported.

Read more: KKR Pubs Firm Calls Time on Australia’s IPO Boom: ECM Watch

The Australian Financial Review reported Aurora’s shelved IPO earlier on Monday. A representative for Aurora Healthcare didn’t immediately respond to a request for comment outside of regular business hours.

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