AustralianSuper reduces stake in ASX
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The news: Major ASX shareholder AustralianSuper has sold down its stake in the exchange since March 2025, according to an ASX filing on Tuesday evening.
The numbers: AustralianSuper offloaded 3,347,622 ASX shares, reducing its voting power from 11.56% to 9.81%.
Shares in ASX were last trading at $56.96 at Tuesday's close, down over 20% from $70.7 apiece five years ago.
The context: Last week, ASX updated its total FY26 expense growth guidance, including ASIC Inquiry costs, to come in between 20% and 23%, an increase on the 14% to 19% previously estimated.
Separately, AustralianSuper last month backed BlueScope’s rejection of a $13 billion takeover offer from SGH and Steel Dynamics. Stokes family-controlled SGH and Nasdaq-listed Steel Dynamics saw their joint bid for BlueScope firmly rejected earlier in January.
The country’s largest super fund, which owns more than 13% of BlueScope, said it would only support a deal that valued the company "materially higher than the price of $30 per share currently proposed".
The source: ASX
