Following a lengthy consultation process, ASX yesterday released its Response to Consultation on updating its admission requirements and associated Guidance Notes for listing on the exchange.
The proposed changes (which were originally published on 12 May 2016), received a strong level of interest from a range of stakeholders including investors, listed companies, brokers and corporate advisory groups, with over 56 written submissions being provided to ASX. This feedback, together with the feedback provided in a number of consultation meetings held by ASX, has shaped the final package of amendments. The final position appears to have struck a balance which may assist early stage technology and innovation entities looking to list on the exchange.
McCullough Robertson's companion piece to The Chairman's Red Book. It is written for chairmen and directors of listed and unlisted public companies, providing an overview of relevant laws and regulations applicable to their roles.
Showing posts with label ASX. Show all posts
Showing posts with label ASX. Show all posts
Thursday, 3 November 2016
Tuesday, 2 August 2016
ASX continues to refine proposed changes to admission requirements
In an earlier post, ASX to take a harder line on early stage IPOs, we highlighted some of the key changes proposed by ASX to the admission requirements for a listing on the exchange.
The ASX consultation process for the proposed amendments closed on 24 June 2016, with the changes initially anticipated to take effect from 1 September 2016. The transition date has, however, been delayed to 19 December 2016 following extensive industry feedback to ASX.
The level of feedback perhaps reflects a concern that the changes, if adopted, are likely to have a significant impact on small cap IPO candidates and back-door listings.
The ASX consultation process for the proposed amendments closed on 24 June 2016, with the changes initially anticipated to take effect from 1 September 2016. The transition date has, however, been delayed to 19 December 2016 following extensive industry feedback to ASX.
The level of feedback perhaps reflects a concern that the changes, if adopted, are likely to have a significant impact on small cap IPO candidates and back-door listings.
Tuesday, 17 May 2016
ASX to take a harder line on early stage IPOs
On 12 May, ASX released a consultation paper on its proposed changes to the admission requirements for a listing on ASX. The media release and consultation paper can be found here.
On the same day, ASIC also released its own consultation paper and updated guidance to improve disclosure of historical financial information in prospectuses. ASIC and ASX have worked closely in developing their respective papers.
ASX' key proposals include:
On the same day, ASIC also released its own consultation paper and updated guidance to improve disclosure of historical financial information in prospectuses. ASIC and ASX have worked closely in developing their respective papers.
ASX' key proposals include:
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