Hopes that the ASX can become a “mini-Nasdaq” hub for fast-growing technology stocks are stalling, with new data showing more tech companies have left the ASX than have listed over the past five years, and pending big acquisitions are set to reduce numbers further.

The ASX said $57 billion had been raised through floats, dual listings and follow-on equity raises in the past five years, meaning strong public market appetite for tech stocks remains in Australia, and that there are signs of the market reopening.