The ASX would love you to know that Australia’s listings market has come roaring back.
It announced on Thursday that 100 companies had joined the exchange in the year to June, up 45% from the year prior, making for its strongest result since FY22. After years wandering the IPO desert, that sounds like a cool glass of water.
Look a little closer, and it’s less inspiring. The ASX is comparing its latest result with what HLB Mann Judd assurance and advisory partner Simon James describes as a “pretty abysmal period” for Australian floats.
By almost every other measure, the local IPO market remains quiet, and is falling further behind a global recovery already producing some of the largest listings ever attempted.
