News & Insights

The ASX has quietly shrunk in recent years, with net new listings at its lowest level in over 30 years, further concentrating the index in financials and resource stocks. As the chart below shows, new listings have steadily fallen from the halcyon days of 2021, as stalling growth and higher debt costs have hamstrung pre-IPO hopefuls. Compounding this issue has been a higher level of delistings, from attractive companies being plucked from the ASX by private equity to post-COVID ‘zombie’ companies finally biting the bullet.