Petition to oppose ASX's proposed listing rules says private investors will be shut out

OnMarket BookBuilds, a stock market listings and placements platform, has launched a petition to oppose the proposed changes to the ASX admissions rules on the grounds that private investors, including self-managed superannuation fund trustees, will be shut out of capital raisings.

OnMarket BookBuilds, which launched the petition on Wednesday, joins the Australian Shareholders Association in rejecting a plan by the ASX to reduce the minimum number of investors required at launch.