The 2023 financial year capital drain shows no signs of abating, with just $4.1 billion in capital raised via the ASX in November.
At the end of November, the total capital raised sat at $27.8 billion, down 57% on the amount that had been raised at the end of November 2021 ($65.4 billion).
The vast majority of the capital raised this year has come via secondary capital: when a company approaches existing and potential investors to ask for additional capital in the form of either equity or debt.
Of the $27.8 billion raised this year, $26.6 billion has been secondary capital.
November figures
Amazingly, only $35 million in initial capital — which includes company IPOs, stapled securities, secondary listings and debt listings — was raised. Across the entire ASX. For the month!
That compares with $10.4 billion in November 2021, a drop-off of 99.66%.
Secondary capital raised also took a small hit in November, down 30% year-on-year to $4 billion.
Six new companies were admitted to quotation in November, compared with 27 the year prior.
Only 32 companies have successfully listed in FY23, compared with 124 at the same time last year.
November saw an average of 1.48 million trades per day, down 13% year-on-year.
The total cash market value for September was $157.9 billion, down 3% year-on-year.
It was a sunnier picture on the futures market with about 10.2 million contracts trading hands, up 16%.
The notional value of OTC interest rate derivative contracts centrally cleared was $590.2 billion, up on last year’s $308.1 billion.
Single stock options (average daily contracts) traded were up 2%, while index options (average daily contracts) traded were up 48%.
- Daniel Paproth