It’s been more down than up for the ASX in the last few years. That’s not the index, but the market operator, which seriously bungled the roll-out of a crucial upgrade of clearance and settlement systems, resulting in more than casual regulatory scrutiny.
That, and generally poor conditions for new listings since the COVID-19 pandemic, have resulted in a weak share price. Over five years, in fact, it’s down some 14 per cent.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
