...when you have a low breadth of quality listings, you tend to get a focus/concentration of love & interest in the few that attract investing interests due to an ever rising price.....until it stops and starts to decline.
...we saw that with PLS, DRO, ZIP...
...same old same old story of ASX market participants chasing the next good story. Riding on momentum/exuberance - do they even know what they're buying and if the valuation even warrants entry?
ASX listings to shrink in 2024: EQT
Nicola Blackburn
The ASX is on track to end the year with fewer listed companies than it started with as more companies opt to go private, said EQT.
The total number of listings has fallen from 2191 at the start of the year to 2121 by the end of November, reflecting a net loss of 70 listings, according to global investment firm EQT.
There were 30 new listings on the ASX in FY2024 to date, compared to 64 delistings.
The decline in the number of listings continues a multi-year contraction for the Australian sharemarket and shows the ongoing appeal of private markets, EQT said.
This trend is driven by companies choosing to stay private longer or opting to delist. Perpetual’s battle to sell two of its three businesses to KKR and Top Shelf International courting buyers are among two deals that hang in the balance.
EQT operates an open-end fund with access to private markets for wholesale investors.
