Australia is emerging as a prime destination for foreign companies seeking to raise capital, with the Australian Securities Exalter (ASX) reporting a significant increase in international listings. Data reveals a fourfold rise in activity compared to 2024, with 16 international listings achieved last year, encompassing both dual listings and initial public offerings. This surge occurs even as the ASX faces potential contraction amid the rising appeal of private capital.
Several high-profile companies are considering an ASX listing, including design platform Canva, e-commerce group Rokt, and mining giant Glencore. Other potential candidates include energy firm Kraken Technology, gaming companies Entain and Flutter, and Canada’s Lundin Mining. While Rokt recently pautilized its listing plans due to market volatility, the overall trfinish indicates Australia’s growing prominence as a listing venue.
A major attraction is Australia’s $4.5 trillion superannuation system, the fourth-largest pension pool globally. This “weight of money” invested in the local sharemarket provides a powerful incentive for foreign firms. James Posnett, general manager at the ASX, noted a more pronounced “home bias” in Australia, with super funds allocating roughly 25 per cent of their assets domestically, compared to just 5 per cent in the UK and Canada.
Luke Boeg, head of equity capital markets at Morgan Stanley, suggests Australia’s concentration of wealth builds the ASX an attractive alternative for companies that may feel undervalued in larger markets. Bankers also highlight the speed and ease of raising further capital once listed on the ASX. The rules allow companies to raise up to 15 per cent of their total value in as little as 24 hours without a lengthy shareholder vote.
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