Home > ASX at PDAC08 and Small Caps Down Under
This article appeared in the March 2008 Listed@ASX email newsletter. To subscribe to this newsletter please register with the MyASX section or visit the About MyASX page for past editions and more details.
ASX at PDAC08 and Small Caps Down Under Conference in New York
ASX took part in two Listed Company-driven events in North America in March - An ASX initiated Investor Conference in New York for mid-caps and the world’s leading Resource Industry conference - PDAC in Toronto.
For the last 18 months ASX has both run, and played a major role in organising CEO-Fund Manager showcase events in Sydney and Melbourne at a rate of ten per annum. These events give the CEOs of small and mid-cap listed companies the opportunity to present to fund managers and brokers over the course of a day.
These domestically focused events have successfully attracted fund managers and brokers and have been based around industry sub themes, such as Iron Ore, Gold, Zinc-days etc. The most recent event in February had over 200 fund manager, broker and other investor attendees.
In the past we have run biotech-days and going forward into 2008/09 we propose to continue to operate fund manager awareness days for all mid and small-cap sectors.
Since the merger of ASX and SFE, ASX has broadened the scope of its education and marketing efforts and now have full time staff servicing the US, European and SE Asian markets.
Based on stockbroker demand in the US for exposure to mid-cap stocks, we decided to expand the successful domestic model to the US market. ASX put together a range of 20 mid-cap ASX listed companies with selection help from Australian Mid-Cap specialist Wilson HTM.
The event was sponsored by ABN AMRO, Bank of New York Mellon, Credit Suisse, Citi, Deutsche Bank, JP Morgan, Merrill Lynch, MF Global, Merriman Curhan Ford, Roth, S&P, UBS, and Wilson HTM and AIRA – the majority of whom were able to secure interest from US fund managers.
The event was attended by over 100 US fund managers and other investors, with the key value to the companies involved being the one-on-one sessions held with fund managers throughout the course of the event.
The conference took place following the PDAC Resource industry conference in Canada, so the range of companies had a bias towards the resource industry. However mining services, technology services, financial services and the life science sectors were also represented.
While there are obvious direct benefits for the specific companies involved, ASX sees the main benefit as being the broader awareness generated among US fund about the Australian Equity Market. We are looking to make this an annual event and may roll this out further to the market in London.
ASX also attended and took a stand at the world’s largest resource industry conference – the PDAC conference in Toronto, which gave ASX a deeper understanding of the global nature of the small and mid cap resource company market and the issues facing these companies. The conference underlined ASX resolve to keeping pressing ahead with changes to the capital raising rules for small caps on ASX.
For more information, please call Eddie Grieve on (02) 9227 0519.
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