Tuesday June 10 2025
News Source: Global Exchanges
Focus: General - Global Exchanges
Type: General
Country: Australia
On 10th June 2025, the Australian Securities and Investments Commission (ASIC) announced that entities listing on the ASX via the fast-track process have access to a shorter initial public offering (IPO) timetable designed to reduce deal execution risk as part of a two-year trial.
ASIC will informally review eligible offer documents two weeks prior to public lodgement, which could reduce the IPO timetable by up to a week.
The changes mean ASIC will engage with an issuer prior to the exposure period, which decreases the need for supplementary and replacement documents and extensions to the exposure period. This also reduces the risk that market volatility and consequential pricing changes may impact investor interest in the IPO.
The changes also include a ‘no action’ position by ASIC that allows eligible companies to accept retail investor applications during the public exposure period for new listings, cutting down the administrative timeline of the IPO process.
The changes still allow for concerns to be raised during the public exposure period and the issue of shares and quotation will still only occur once the exposure period has ended.
ASIC’s new approach comes into effect and is the first in a series of regulatory changes it is considering enhancing and improve the attractiveness of Australia’s public markets.
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