Chanticleer
IPO boom tests ASX listing unit
The Australian sharemarket has defended its listings compliance division against criticism it is being too interventionist in the float application process.
The strongest initial public offering market since 2008 is throwing up some stakeholder management challenges for the ASX as it works hard to defend market integrity and keep out companies deemed unsuitable for listing.
Almost 50 companies listed on the ASX in the first five months of the year and another 39 companies are in the ASX pipeline with proposed listing dates through to the middle of July, according to HLB Mann Judd partner Marcus Ohm.
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