ASX rejects ‘shrinking’ criticism, expects upturn in listings
Dual listings have helped the local exchange smooth out a tough few years for initial public offerings amid rising competition from private equity and rival exchanges.
The number of listings on the ASX may be falling but the exchange has defended its status as an investment destination as it prepares for a recovery in the listings cycle.
New internal analysis provided to Capital Brief shows that $485 billion worth of net new capital has been added to the ASX since 2016, growing annually for seven consecutive years.
The growth comes in spite of companies, representing a collective $274 billion, falling off the exchange over the same period as the number of total listings declines.
Speaking at the Macquarie Australia Conference, ASX CEO Helen Lofthouse accepted capital was increasingly finding its way to private equity but fended off the suggestion that it was eating the exchange’s lunch.
