ASX recorded its strongest listings year since FY22, with new listings rebounding despite higher interest rates, renewed inflation pressures and heightened global uncertainty. A total of 100 new entities listed on ASX in FY26, up 45% on FY25. Total new capital quoted reached $91.0 billion, the highest level since FY22.
New listings added $32.6 billion in quoted market capitalisation, an 86% increase on FY25, while IPO capital raised totalled $5.6 billion, above the five-year average of $4.9 billion. Net new capital quoted reached $37.1 billion in FY26.1
James Posnett, ASX General Manager, Listings, said:
“FY26 marked a constructive step forward for Australia’s listings market, with new listing activity returning towards long-run averages despite a more challenging macroeconomic backdrop in the second half of the year.
“Companies continue to choose ASX to raise capital, access liquidity and connect with Australia’s deep pool of long-term investment capital. The recovery in IPO activity, strong follow-on capital raisings and significant increase in international listings all point to the depth and resilience of Australia’s public markets.
"Ensuring we have the right settings to continue to encourage vibrant public markets is essential. A strong, well-functioning public market lowers the cost of capital for Australian companies, enabling them to invest, expand, and compete globally while keeping ownership and value creation anchored domestically.
“International listings were a standout feature of the year, with more global companies choosing ASX to support their growth ambitions and connect with Australian investors. The quality and scale of international companies listing on ASX continued to improve, reinforcing the relevance of Australia’s market on the global stage and the appeal of its sophisticated investor base, including the country’s $4.4 trillion superannuation system.”
International listings increased to 23 in FY26, up from five in FY25 and well above the five-year average of 13. Four international companies listed with market capitalisations above $1 billion, compared with one in FY25, including Ryman Healthcare, DPM Metals, Channel Infrastructure NZ and Pan African Resources. US-based Light & Wonder delisted from Nasdaq to become soleprimary listed on ASX in November 2025, bringing its full market capitalisation at the time of approximately $11 billion onto ASX.
Resources continued to anchor activity, with Materials the largest source of new listings in FY26. The sector accounted for 30 new listings, supported by investor interest in gold, silver, copper, lithium, diversified and critical minerals. New listings also came from real estate, healthcare, industrials, financial services and consumer sectors, reflecting a broader range of opportunities for investors.
Follow-on capital raisings remained a key strength of the ASX market. ASX-listed companies raised $37.8 billion in follow-on capital during FY26, up 20% on FY25, with activity particularly strong across resources, energy transition, financials and technology issuers. ASX has ranked first globally by volume of follow-on transactions in nine of the past ten financial years.
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 datacentre assets, while metals and mining, defence technology, energy transition and income-focused vehicles continue to feature prominently.
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