Slow July on the ASX as capital raised falls by more than a third
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Total capital raised on the ASX in July was down more than a third on July 2018, the bourse’s latest monthly report shows.
There was just under $4.8 billion in total capital raised, a 36 per cent fall compared with the $7.5 billion raised in July last year.
It was also a 34 per cent fall on June, in which $7.3 billion in capital was raised.
This was largely due to a 75 per cent drop in new admissions to the ASX list — only four companies were welcomed to the official quotation for the month of July.
They included Invex Therapeutics (ASX:IXC), Quickfee (ASX:QFE) and the newest buy-now-pay-later stock Sezzle (ASX:SZL).
As a result, initial capital raised fell a dramatic 98 per cent, from $5.4 billion in July last year to just $134 million.
However, secondary capital saw a big 120 per cent jump, up from $2.1 billion to $4.6 billion.
The total number of trades rose 46 per cent to 37 million, with 1.6 million trades every day on average.
Total cash market value rose 24 per cent to $127 billion.
Stockhead has reached out to the ASX for comment.