The ASX recently released revised rule changes that will take effect from 19 December 2016.
The key listing admission rule changes are:
Market cap: minimum increased from $10 million to $15 million
Free float: a minimum of 20% market capitalisation must be free float
Spread: at least 300 security holders each holding at least $2,000 of securities
The following admission rules relate to the business:
NTA: minimum net tangible assets increased from $3 million to $4 million
Profit: Increasing the requirement for profit test entities to have consolidated profits for the 12 months to admission from $400,000 to $500,000
Financials: two full financial years of audited accounts for the company as well as and any significant entity or business acquired in the 12 months prior to applying for admission to the ASX or that the company proposes to acquire in connection with its listing
Working Capital: $1.5 million minimum for those admitted under the assets test