Okay, so a top of the front page banner on Kobo AU: Hot titles for to 40% off.
No doubt one would expect to see discounted titles .... well .... this is Kobo .... and it seems that someone thought up a grand idea, but the implementation team didn't think it was all that grand, or something ....
The 3 titles at the top of the Hot titles screen are $11.99, $11.99, and $4.99.
As Amazon prices them the same, well except $4.74 for the third title, I can't see how the price is any different than normal.
Edit
Another thought: maybe the 'up to 40% off' means from 0% off to 40% off .....