The AICD has commented on the ASX Consultation paper: Updating ASX’s admission requirements for listed entities.
The AICD supports the ASX’s objective ‘to ensure that the ASX market continues to be a market of quality and integrity, and remains internationally competitive’. We consider the proposals, taken as a whole, to be consistent with these policy objectives.
While the AICD is generally supportive of the Consultation paper proposals, it was noted that the higher thresholds will limit the ability of start-up and early stage enterprises to access capital through an ASX listing. We therefore, encouraged the ASX to apply appropriate discretion in the application of its thresholds and to monitor the impact of its proposed changes to ensure that they do not impede growth of innovative businesses in Australia.
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