Listing requirements

To list on ASX, your company must meet minimum admission criteria designed to underpin the quality of the ASX market

Admission criteria

Admission criteria	General requirement
Number of shareholders	Minimum 300 non-affiliated investors @ A$2,000 each
Free float	20%
Company size
Profit test	A$1 million aggregated profit from continuing operations over past 3 years + A$500,000 consolidated profit from continuing operations over the last 12 months
OR
Assets test	A$4 million net tangible assets OR A$15 million market capitalisation

Spread of shareholders

Your company must have at least 300 non-affiliated shareholders, each of whom has a holding with a value of at least $2,000 which is not subject to ASX-imposed or voluntary escrow.

You do not need to have the required spread or free float before the listing application is made. The approval for listing will be subject to the company meeting the shareholder spread requirement through its initial public offering of shares.

Working capital

If you are seeking admission under the profit test, there is no working capital requirement.

If you are seeking admission under the assets test, your company must have at least A$1.5 million of working capital.

The prospectus, PDS or information memorandum for the offer must also include a statement that your company has sufficient working capital to carry out its stated objectives

Ongoing reporting

Financial reporting is required on a half-yearly and annual basis in Australia.

Certain companies admitted under the assets test, and mining and oil and gas exploration companies, are also required to file quarterly activities reports and cash flow statements.

Dual listing

A company that is already listed on a foreign exchange that meets ASX's minimum admission criteria can also list on ASX as an ASX Listing or ASX Foreign Exempt Listing.

A company that dual lists on ASX as an ASX Listing must generally comply with all of the ASX Listing Rules.

An ASX Foreign Exempt Listing must comply primarily with the rules of its home exchange and is exempt from most of ASX's Listing Rules. Other than for New Zealand companies, high financial thresholds apply for a company to be admitted as an ASX Foreign Exempt Listing.