There are far fewer ASX companies raising initial capital in the 2023 financial year so far, and among those who are, less is being raised, according to ASX statistics.
Just $789 million in initial capital — which includes initial public offerings (IPOs), stapled securities, secondary listings and debt listings – has been raised in August and September.
And while that might sound like a lot, that figure has fallen 92% compared to the $9.5 billion raised at the same point last year.
More than half of that figure came in September, which saw $494 million in initial capital raised (down 81% year-on-year).
Existing companies looking for a few extra lines of credit are still hungry, however.
Money raised in FY23 via secondary capital — when a company approaches existing and potential investors to ask for additional capital in the form of either equity or debt — sits at $19.7 billion, up 2% year-on-year.
Overall, $20.5 billion has been raised via the ASX in FY23, down 29% year-on-year.
Eight new companies were admitted to the quotation in September, compared with 31 the year prior.
Only 18 companies have successfully listed in FY23, compared with 74 at the same time last year.
September saw an average of 1.7 million trades per day, down 3% year-on-year, with the average daily value of those trades worth $6.4 billion, down 9%.
The total cash market value for September was $153.6 billion, down 14% year-on-year.
The volume of futures trades remained consistent year-on-year, with about 15.2 million contracts trading hands.
The notional value of OTC interest rate derivative contracts centrally cleared was $607.9 billion, up on last year’s $557.5 billion.
Single stock options average daily contracts traded were down 13%, while index options average daily contracts traded were up 23%.
- Daniel Paproth