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BRISBANE, Jan 1 Asia Pulse - A higher number of companies listed on the Australian Stock Exchange in 2003, over 2002, and the trend is set to continue into 2004.
A total of 124 companies joined the ASX in 2003, based on provisional figures, with 96 of these in the second half of the year as the global economy and equity markets began to soar.
That compares to a total of 102 listings in 2002, 84 in 2001 and 182 listings in calendar 2000.
Home equity markets expected to remain buoyant and economic growth forecast to pick up.
According to the Hong Kong-based Thomson Financial, IPO issuance on the ASX more than doubled in 2003 to $A7.8 billion ($US5.83 billion), compared to $3.0 billion in the previous year.
The year's new listings bring the current total of publicly listed companies to about 1,490. The groundswell is set to spill over into the new year, with 11 companies queued to float in January and February.
Several more companies have launched their prospectus, but are yet to announce dates of their pending float.
Source: HighBeam Research, AUSTRALIAN BOURSE TO CONTINUE LISTINGS GROWTH IN 2004.