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ARTICLE · 11 JUNE 2013

Boosting capital raisings for mid/small caps on Australian Securities Exchange

DLA Piper Australia
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Given the size of most ASX-listed Life Sciences companies, this recent ASX amendment is very significant for the sector.

AustraliaFinance and Banking
Simon Davidson
Simon Davidson

MSCs have a market capitalisation of $300 million or less and are not included in the S&P/ASX 300 Index.

Recently, the Australian Securities Exchange (ASX) amended its Listing Rules to enhance the capital raising environment for mid/small cap companies (MSC) currently listed on ASX. The most significant change enables MSCs to seek a mandate from shareholders to issue an additional 10% of the issued capital of the company without further approval. Given the size of most ASX-listed Life Sciences companies, this change is very significant for the sector.

This article briefly looks at:

  • What exactly is the amendment?
  • What are the benefits of the amendment?
  • Is there devil in the detail?

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