4 Requirements for listing on the Australian security exchange (ASX)
Listing on the Australian Stock Exchange is done by an IPO, an Initial Public Offering. The organization list at this time to raise capital or via a Compliance Listing where capital is not raised at the time of listing. The ASX requires the organization to meet a number of listing criteria that includes the size, the number of shareholders and investors, the way the organization is structured and a certain level of assets or profits. This is designed to ensure that all organisations listed on the ASX meet a certain standard across the board.
As shown in the table below, the organization must have a minimum of 300 investors with $2000 worth of holdings and at least 50% of these
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This absence of published intent is not surprising as the board and management of China Dairy Corporation would not wish to provide significant insight into the short to medium plans of the business as it would be freely accessible by competitors.
This does make any review and discussion on future performance difficult, and would involve this report making assumptions that would not be backed with any substance. As such, this report will only be able to state that if such detail was able to be obtained and reviewed. Possible projections could be created to ascertain the future state of the business. This would then translate to the intrinsic share price of the business and if positive increase the value of both the overall business and in turn the resulting value to shareholders.
It should be stated that China Dairy Corporation currently is fully funded from shareholder equity, combined with displaying a history of year on year growth. It is not an unrealistic expectation that this would continue as the operating model is not proposed to change in the immediate future, only expanded upon. The other areas of competitive advantage and risk management practices will be key areas in the determination of future performance in the absence of future cash flow