Facilitating capital raising for corporate Australia
A speech by Belinda Gibson, Commissioner ASIC, to the Corporate Finance World Australia 2009 conference, 10 November 2009
My theme today is 'facilitating capital raising for corporate Australia'. I wish to focus on a number of issues within this topic. Broadly speaking, I will comment on how Australia has fared in terms of raising capital in the wake of the GFC and the capital raising methods being used. I will then provide some insights on issues that ASIC is focusing on going forward including:
early leakage of information about a prospective raising
the overall quality of disclosure to the market in annual reports, and
the meaning of "clear, concise and effective", particularly now the capital markets are opening again to Initial Public Offerings (IPOs).