SYDNEY — Delistings in Australia have outnumbered IPOs by over 30% in the past five years, dealing a blow to Canberra’s efforts to create a vibrant technology sector with the help of the stock market.
An Australian national newspaper sounded the alarm in March in an online article, saying the Australian Securities Exchange (ASX) tech dream had stalled. The ominous report came after Japanese chipmaker Renesas Electronics said in February it would acquire Altium, a U.S. software maker listed on the ASX, for 9.1 billion Australian dollars ($5.93 billion).
