Only $17 million in initial capital raised in the month of August, compared with $1.05 billion in August last year, according to statistics released by the ASX.
The staggering 98% fall comes amid a slow start to ASX capital markets in the 2023 financial year; just $295 million in initial capital has been raised, compared with $6.9 billion at the same time last year.
That represents a 96% fall for initial capital, which encompasses funds raised by initial public offerings and new ASX listings.
Secondary markets, however, are healthy, with $14.8 billion raised in FY23 thus far, up 31%.
Secondary capital is money raised via the buying and selling of shares on the open market.
That brings the total amount of capital raised in the first two months of FY23 to $15.1 billion, down 17% on a year prior.
Only four new companies were admitted to the list in August, with 17 being removed from the official quotation.
The on-market cash value for August was $131.4 billion, down 7% year-on-year, while the total cash market value was $151.4 billion, also down 7%.
Average daily futures volume was up 14%, though the average daily options volume was negligible.
The notional value of OTC interest rate derivative contracts centrally cleared was $547.4 billion, up significantly on the $264.5 billion registered in the year prior.
Single stock options average daily contracts traded were up 3% and index options average daily
contracts traded were up 56%.
Participant margin balances held on balance sheet at month-end totalled $13.7 billion in August 2022, up slightly.
Written by Daniel Paproth