ASIC shrinks IPO timetable for ASX

Initiating a two-year trial, ASIC has enabled a shorter initial public offering (IPO) timetable for eligible entities seeking to list on the Australian Securities Exchange (ASX).

- Matthew Wai

During the trial, ASIC will “informally” review eligible documents two weeks prior to public lodgement, which speeds up the IPO process by up to a week.

The ASX Fast-track is available to entities that will have a market capitalisation greater than $100 million upon listing and no ASX imposed escrow, ASIC confirmed.

They must also provide a pathfinder prospectus or pathfinder PDS at least 14 days prior to formal lodgement for review, which ASIC will aim to complete within the period.