The Sydney Stock Exchange (SSX), Australia’s alternative tier-one listing venue, announced its first listing this week.
Sydney Stock Exchange CEO Michael Go welcomed junior resources company Torque Metals in a bell ringing ceremony at on Tuesday at SSX headquarters in Sydney. Go said the listing was the first under the exchange’s new strategy and that several more companies were well advanced in the listing application process.
“Last year we announced we were focusing on providing a flexible, efficient alternative for growth companies to list and further their ambitions,” he said. “That’s exactly what Torque Metals is doing and I’m delighted that we can support them, and the other companies getting ready to list, as part of a thriving Australian financial ecosystem.”
Torque Metals MD and resources veteran Ian Finch said SSX had provided an excellent venue for the company to raise capital to further its exploration plans.
“Junior resources companies have found it increasingly difficult to float in recent years, but listing remains an excellent path to growth,” he said. “SSX have been very supportive and helpful as we have brought Torque to market.”
Go said while 2020 had presented plenty of challenges, SSX was anticipating several more listings by the end of the year.
“We’ve been very focused on our plan – to help Australian growth companies succeed, and that’s especially true now in the pandemic,” he said. “Every company we can help to grow will add a little bit to the COVID recovery and support the Australian economy, and that’s more important to me now than ever.”
SSX offers a six-week listing process focused on Australian companies. The exchange is the only venue in Australia with a dedicated ESG board, and the exchange expects listings to go live on that board in the last quarter of 2020.