Australia’s Biggest IPO in Six Years Will Start Trading

Hello, it’s Amy here with all the news you need to get your day started.

Today’s must-reads:
• DigiCo Infrastructure REIT’s ASX listing
• Unemployment unexpectedly falls
• The latest Bloomberg Australia podcast

Shares of data center owner DigiCo Infrastructure REIT are set to start trading in Sydney. The A$2 billion ($1.3 billion) initial public offering is Australia’s biggest in more than six years. DigiCo is expected to have a total portfolio of 13 properties in Australian and North American markets.

Australia’s unemployment rate unexpectedly fell to 3.9% in November, driven by full-time jobs. It’s caused traders to pare back bets of a rate cut in February. The timing of follow-up cuts were also pushed back, according to data compiled by Bloomberg.

AustralianSuper says it’s in “regular discussions” with Syrah Resources, after the Australian miner declared force majeure for its Balama graphite mine in Mozambique. The nation’s biggest super fund is the largest shareholder, with a 32% stake. Meanwhile, Rio Tinto will invest $2.5 billion in a new lithium mine in Argentina.

Australia and Papua New Guinea have signed a confidential agreement, the Australian government’s second security pact in the Pacific in just under a week. It’s seen as a win for Australia in its competition with China for strategic influence in the Pacific, following similar agreements with Nauru and Tuvalu.

Tech giants will face new penalties in Australia if they fail to pay local news organizations for their journalism. It’s the latest move by Canberra to tackle the rising power of global social media companies.

New Zealand’s government is planning changes to its so-called “golden visa” program to attract more wealthy immigrants who invest in the country.