Agreed. And let's face facts, Australia just doesn't have the type of money flowing around that CDX would need for it to ever get to fair value. Big money is in the US and a lot of the big investors do not need to look further than their backyard (USD denominated) to find great investments. So most never really venture out to Australia, not to mention the currency risk involved. Why bother.
Also, unfortunately, Australian investors (present company excluded) aren't that sophisticated nor is the news or journalism that surrounds it (not that you should take your investment advice from journos but it does reflect interest). When you have made returns on mining and non-Medtech related stocks for decades why would you consider starting from scratch to learn a whole new industry. Easy answer, you wouldn't. And many Aussie investors just haven't gotten their head around it yet.
Another stock iv held for 7 or so years (starts with an I ends in a U) would have benefitted significantly from a NASDAQ listing (although they are on the OTC market) years ago. Would have meant fairer valuations sooner and overall significantly less dilution in the process as they wouldn't have to have their hat in hand to a relatively small bunch of instos and sophs here.
So I say it's a great step and the right time for them to do it. Why continue playing the game with one hand tied behind your back. Good work Coops. I'm sure there are strong influences in the US already who are eyeing out a stake in CDX.
DYOR IMU
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