The Australian Securities and Investments Commission has proposed expanding existing relief from Corporations Act restrictions to give companies greater flexibility to advertise and publicize initial public offerings before lodging a prospectus. The changes would modernize the pre-lodgement communications framework while retaining the prospectus as the primary disclosure document for investment decisions. Companies could advertise offers of unquoted securities if they identify the issuer and seller, explain where and when the prospectus will be available, make it available by the time the securities are listed and direct investors to it as the key source of information. The framework is intended to permit controlled communications, help issuers assess market interest and correct information promptly, and align the rules more closely with comparable international and domestic fundraising regimes. Feedback is due by Sept. 11, 2026.
Australian Securities & Investments Commission2026-08-04
Australian Securities and Investments Commission launches consultation on broader pre-prospectus IPO advertising
The Australian Securities and Investments Commission has proposed allowing broader advertising and publicity for initial public offerings before a prospectus is lodged. Communications would be subject to disclosure conditions and must reinforce the prospectus as the primary source for investment decisions. Feedback is due by Sept. 11, 2026.