I'm guessing that everyone is getting the emails re the 'Super Sale' Feb 18-22. (No discount percentage provided). The Aus sale starts in 6 ish hours, so the countdown clock on the screen shows.
Anyway, here's a link to the other part of the promo, $5 credit when you sign up:
https://store.kobobooks.com/p/5creditoffer
The offer fine print:
Offer valid only for legal residents of Canada, the United States, Australia and New Zealand, who make their first purchase on kobo.com between January 1, 2016 12:00AM EST and February 28, 2016 at 11:59PM EST.
A $5.00 credit will be automatically applied against your purchase of an item priced at $5.01 or more (excluding tax). Credit may only be used once, and is valid for first time purchasers only. If you have made a purchase using your Kobo account in the past, you will not be eligible for this offer.
This offer is not valid in conjunction with any other offer or promotion and cannot be used to adjust amount paid on previous purchases. Discounts cannot be applied nor the discount value refunded once a purchase is complete. Rakuten Kobo Inc. reserves the right to change or cancel the offer at any time without notice.
Note: the offer is
not for UK residents!