The Australian Securities Exchange is actively dissuading scores of immature tech companies from listing as it seeks to maintain standards and avoid reputational damage after the dramatic falls of Big Un and GetSwift.
The ASX's executive general manager of listings, Max Cunningham, said he was regularly telling immature companies to postpone their plans to hit the market. The move follows exposes by The AustralianFinancial Review earlier this year of poor disclosures at newly listed tech companies Big Un and GetSwift.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
