Australian enterprise software company TechnologyOne has been admitted to the S&P/ASX 50 index, cementing its position among the nation’s most influential listed companies.
The Brisbane-based firm now stands alongside names such as BHP, Commonwealth Bank, Qantas and Rio Tinto. Its inclusion paves the way for greater access to capital from large superannuation funds and index-focused investors.
The milestone comes 38 years after TechnologyOne’s founding and reflects its sustained expansion and market prominence. Over the past year, the company’s share price has risen nearly 70%, giving it a market capitalisation of A$12.49 billion. Shares were last trading at A$38.14.
Chief executive Ed Chung described the achievement as recognition of the “grit, focus, and heart” of the company’s employees. In a note to staff, he said TechnologyOne’s objective was “never to be big nor was it ever to chase a share price.”
“Our true north has always been our customers — and our compass has always been you: the TechOne team. Your grit, focus, and heart are what keep us moving forward,” Chung said.
TechnologyOne develops enterprise resource planning software used by councils, schools, universities, hospitals and government agencies.