IT appetite spurs public floats to new high

An investor appetite for technology companies contributed to a 138 per cent increase in listings on the Australian Stock Exchange last year, according to a PricewaterhouseCoopers' survey.

More than half of the 107 floats, trusts and funds related to technology companies, the company said in its 10th Survey of Sharemarket Floats. The rush for IT, coupled with a bouyant economy, fuelled the surge, which was way above the 45 companies listed in 1998, the survey showed"The float boom has continued into 2000, with more than 20 companies listing in the first quarter, compared to only four in the same period last year," said PwC's corporate finance and investment banking partner, Greg Keys.

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