Australia 'for sale' says leading accountancy firm

AUSTRALIAN corporate fundraising improved over 2014, and a leading accountancy firm says 2015 looks bright again due to a flood of foreign money.

In its annual study of initial public offerings (IPOs), accountancy and consultancy firm HLB Mann Judd, found an 18 per cent increase over 2013 with 58 companies listing on the ASX last year.

Over $16 billion was raised, but a large chunk of that money went to the Federal Government through the $5.7 billion Medibank privatisation, while the Healthscope float accounted for another $2.26 billion.

Overall, healthcare companies dominated the large new listings (seven out of the top 10), while technology firms had the largest number of smaller cap listings last year.

Those sectors displaced the mining sector which traditionally dominates small and mid-cap floats - after booming in 2012 during the last resources upswing when it made up more than three-quarters of IPOs, materials companies accounted for just five listings in 2014.

Read more at ABC News Online

 



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