ASX records strongest listings since FY22, total entities fall

The Australian Securities Exchange recorded its strongest listings in the financial year ending 30 June 2026 since FY22, although the total number of listed entities continued to decline. The exchange reported 100 new listings for FY26, a 45% increase from the 69 listings in the previous corresponding period. Despite the rise, the figure remained below the five-year average of 101. New entities added $32.6 billion in quoted market capitalisation, an 86% increase on FY25, while total new capital quoted reached $91 billion, the highest level since FY22.

The total number of entities on the exchange fell to 2042 as of June 30, down from 2083 in FY25. ASX general manager, listings James Posnett described the year as a constructive step forward despite a more challenging macroeconomic backdrop in the second half. Posnett noted that companies continue to choose ASX to raise capital, access liquidity, and connect with Australia’s deep pool of long-term investment capital. He said the recovery in IPO activity, strong follow-on capital raisings, and a significant increase in international listings all point to the depth and resilience of the public markets.

Ensuring the right settings to encourage lively public markets is essential, Posnett said. A strong, well-functioning public market lowers the cost of capital for Australian companies. This enables them to invest, expand, and compete globally while keeping ownership and value creation anchored domestically. The quality and scale of international companies listing on ASX continued to improve, reinforcing the market’s relevance on the global stage and the appeal of its sophisticated investor base, including the country’s superannuation system.

International listings were a standout feature of the year, increasing to 23 in FY26, up from five in FY25 and well above the five-year average of 13. DPM Metals from Canada, Ryman Healthcare and Channel Infrastructure from New Zealand, and Pan African Resources from South Africa were all listed in FY26. These companies are part of the top 15 international listings over the past five financial years. Posnett said the resource sector continued to anchor activity, garnering 30 new listings, and follow-on capital raisings remained a key strength of the market.

The IPO pipeline entering FY27 is the strongest it has been in four years and is increasingly weighted towards larger and more diverse transactions. Investor interest remains particularly strong in artificial intelligence and digital infrastructure, including data centre assets, while metals and mining, defence technology, energy transition, and income-focused vehicles continue to feature prominently. This recent uptick in activity follows a period of low IPO numbers, a trend seen across global markets where regulatory uncertainty and shifting investor appetites have often stalled initial public offerings. The current surge suggests that these headwinds may be easing, though the broader macroeconomic environment remains a variable for the year ahead.