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ARTICLE · 22 JUNE 2025

ASIC floats IPO reforms to revitalise public markets

Cooper Grace Ward
Cooper Grace Ward
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Australia's public markets must continue to evolve to remain competitive on the global stage.

AustraliaFinance and Banking
Phil Vickery
Phil Vickery
Omar Harduwar
Omar Harduwar
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Introduction

ASIC's announcement comes against a backdrop of ongoing headwinds for public markets. The number of ASX‑listed entities has been on the decline, IPO activity remains subdued, and companies are increasingly exploring private capital markets as an alternative route to funding and liquidity. These trends reflect a broader global pattern, with public markets worldwide experiencing similar dynamics as private capital continues to attract significant inflows.

In response, ASIC and the ASX have embarked on a program of reforms designed to modernise listing processes and enhance the competitiveness of Australia's public markets. This follows extensive consultation, including ASIC's February 2025 discussion paper on capital markets dynamics, and forms part of a broader regulatory roadmap that is expected to continue evolving over the year ahead.

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This publication is for information only and is not legal advice. You should obtain advice that is specific to your circumstances and not rely on this publication as legal advice. If there are any issues you would like us to advise you on arising from this publication, please contact Cooper Grace Ward Lawyers.

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