Joe Longo, chairman of the Australian Securities and Investments Commission, has picked the second most obvious piece of low-hanging fruit to show he’s doing something to support initial public offerings and Australian-listed equities markets.
Tightening IPO timetables is a no-brainer. It takes away some of the market risk for underwriters, who are investors these days, not investment banks, which should encourage investors to buy shares in floats and make it a tad easier for ASX-aspirants to get support for their big listing day.
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