ASX expected to finish year with net loss in listings

Investors’ growing preference for private markets has continued to show, as the Australian Securities Exchange (ASX) is expected to close 2024 with fewer listed companies than it started with.

According to the ASX Group’s latest Monthly Activity Report for November, the total number of listings has dropped from 2,191 at the beginning of the year to 2,121 by the end of November – a net loss of 70 listings.

The report also said that there had been 64 delistings on the ASX in the 2024/25 financial year to date, despite 30 new listings recorded during that same period.

This shift away from public listings has emphasised the “growing appeal” of private markets for companies, with investors also flocking to private strategies due to their defensive tendencies, strong performance and delivery of innovation, value and growth.

EQT’s Managing Director in its Client Relations and Capital Raising team, Martin Donnelly, said this trend was reflected in recent global initial public offer (IPO) activity; fundraising in the first quarter of 2022 amounted to USD$54.6 billion, compared to the USD$24.9 billion raised in Q3 2024.

“With a month remaining in the year, it’s evident that the pivot towards private market assets continues to gain momentum. This trend reflects broader structural changes, as companies increasingly find private markets to be a more attractive pathway for growth and
access to capital,” Donnelly said.

“Investors who limit their portfolios to public markets are missing out on a growing share of the opportunity set. Private markets provide exposure to sectors and companies driving innovation and economic growth, particularly in the absence of IPO activity.”

EQT also launched an open-ended fund for wholesale investors, EQT Nexus, allowing access to opportunities across mature buyouts, early-stage ventures and infrastructure investments within EQT’s Private Equity and Infrastructure funds.

“EQT Nexus provides wholesale investors with access to opportunities that were previously only available to institutional investors, meaning they can access a broader investment universe and EQT’s ongoing global deal flow,” Donnelly said.