ASX has today sent a letter to all listed entities advising them of the move, which will come into effect on 1 June 2003. The letter explains the rationale behind the increases, which have been necessitated by ASX's ongoing commitment to operating a market of acknowledged leadership in terms of efficiency and integrity.
Under the new schedule, a company with a market capitalisation of $500 million will pay less than $2,600 in additional annual fees. For a relatively small-cap company (such as the hundreds of mineral exploration companies that are listed on ASX), the increase should amount to less than $600.
By international standards, ASX's fee structure invites significantly favourable comparison. Whether it is measured by the initial listing fees for IPOs, the minimum fees charged for IPOs, or the proportionate rate of fees for quoting additional securities, companies choosing ASX enjoy a substantial advantage over companies listing elsewhere.
"We believe the new schedule is modest and reasonable, certainly justified by the extraordinary growth in the market and the services provided for it, since the last significant fee increase in 1991," an ASX spokesman said.
"Of course we will continue to improve our suite and standard of services made available to our companies as we grow the market together."
