Rise in Australia investment07 September 2015 by News Desk
There has been an increase in the number of new companies coming onto the Stock Exchange in Australia.
Forty-eight companies have raised over $2.5bn in new investment by ‘floating’ on the ASX so far this year, a higher number than the same period last year which saw a record number of initial public offerings (IPOs). The figures show no lack of confidence from investors seeking new business in Australia.
The majority of individual new stock exchange listings involved investment of over $75 million.
A breakdown of all new listings show that 47% have been technology, media, and telecommunications companies, 21% were financial services companies and 10% have been property and construction companies.
And the companies that listed on the ASX in 2015 have to date out-performed the market overall, generating share price performance of 7.2%, according to Deloitte.
Darrell Todd of thinkingaustralia says: “These latest figures show that Australia remains a strong and vibrant place to invest, start a new company and grow a business. The growth of technology companies, in particular, shows that the Australian economy is diversifying strongly”.