The ASX has over 2,200 listed companies with a total market capitalisation of around $1.75trn. The number of foreign companies included in that total has doubled in the past four years.
In 2016, it listed more companies in total than any other global exchange, launching 118 initial public offerings (IPOs) compared with second-placed Nasdaq in the US with 84 and 64 on the London Stock Exchange.
While the ASX does list a lot of smaller companies, it ranked seventh in the Top 10 globally for value, reaching US$28.7bn between 2014 and 2016.
The diversity of international companies available to ASX investors continues to grow, with countries such as New Zealand (51 listings), Israel (15), Singapore (17), the US (38), Malaysia (11) and Ireland (2) represented, ASX Ltd’s chief executive Dominic Stevens told the Stockbrokers and Financial Advisers conference in Sydney on 24 May, 2017.
“By listing foreign companies, we are providing product for Australian investors to get exposure to offshore markets,” Stevens said. “Local investors can now access a growing range of international companies, many of which are in fast-growing, high-tech industries that have traditionally been hard to get exposure to in Australia.”
The industry dynamic of listings on the ASX has changed from around half being mining-related companies in 2012, to a larger proportion of non-mining companies in 2015 and 2016, he said.
The technology sector is now the third-largest industry sector on the ASX by number of listings, with more than 200 companies available to investors and more than 30 tech companies entering the sector over the past 12 months.