ASX has confirmed their new capital raising facility, ASX BookBuild, will go live on 8 October. It is important to note that ASX is not doing bookbuilds, they will simply be providing a bookbuild facility. Its use will be optional, and it will be offered by brokers & investment banks to win mandates where they consider it will result in the best pricing and allocation outcomes for companies. The ASX BookBuild Facility will enable companies to access all-of-market demand for issues of new shares. By accessing demand from all potential investors ASX BookBuild will lower the cost of capital to companies. The facility will give management and boards confidence that new issues are priced appropriately, in light of all-of-market demand. Further reading here: (VIEW LINK) Why I can't wait for ASX BookBuild by David Manchee, Belvedere Share Managers.
Great news Simon! Can't wait for the first raising