New ASX listings mostly sound rather than speculative

A survey by Ernst & Young Global said that new listings on the stock market more than doubled in Australia last year. E&Y said there were 166 new listings that raised $10.2 billion in capital. E&Y said that most new ASX listings were of companies that were cash-flow positive, relatively low risk and growing. E&Y said this was in contrast with the flood of technology-related listings in 1999.