Sydney Stock Exchange announces new CEO Michael Go and a new strategy

australia exchange

The Sydney Stock Exchange (SSX), Australia’s alternative tier-one listing venue, has today announced its new CEO, Michael Go. The exchange has  also accepted its first listing applications from Australian cleantech energy company AGEO Resources and Australian medical technology company ANNSCA Medical.

Michael Go joins the SSX from an international career in finance. He said the new strategy was designed to support up-and-coming Australian companies and bring more benefits of competition to the Australian market, in the spirit of ‘co-opetition,’ and added:

Our focus is very much on growth companies – businesses that have a track record and are looking to take the next step but may not be big enough to easily list on a main bourse,” he said. “By fostering growth in this sector we think we can add new depth and vibrancy to the Australian listed landscape and bring some fresh, positive options to the market.

Go said the SSX’s first accepted listing application, AGEO Resources, was a perfect example of the exchange’s new approach.

AGEO Resources is a local company that has developed technology here in Australia to supply clean energy,” he said. “Their geothermal system is clever, clean and forward-thinking – exactly the type of company we want to foster and grow so they don’t have to go offshore to find capital.

AGEO Resources CEO Romolo Bertani said the SSX’s focus on smaller companies, as well as ESG principles, had been deciding factors in its plans to go public on the SSX.

As a small company with big ambitions we feel a synergy with SSX, and we are impressed by their ESG goals which are in alignment with ours,” he said. “We are very much looking forward to working towards a listing next year and appreciate the support they have provided us to date in developing our relationships with local and international capital market participants in this early phase.

ANNSCA Medical comes to SSX as it plans distribution in the US of a new low-cost medical device to assist people suffering disabilities and obesity. Mr Go said the company’s ESG-based approach and locally-based development aligned well with SSX’s overall strategy.

SSX Chairman Peter Rollason commented the Board had been very impressed with Mr Go’s achievements to date.

Michael has brought fantastic energy and renewal to the business,” he explained. “Our pipeline of potential listings has grown to more than 50 from a standing start, and we look forward with excitement to 2020 and beyond.

The SSX received its license in 2008. Mr Go acknowledged that the venue had not fulfilled its license potential in the past but said the time was right for its new sector-focused approach.

We know there is plenty of demand in the market for the type of products and services we can offer,” he shared. “We are different because we are focused on listing smaller companies; we have a six-week listing process; and we are the only exchange in this country with a dedicated ESG board. We are also well funded for the long game and committed to building a thriving ecosystem for great Australian businesses. Everyone loves a great turnaround story and in 2020 that story will be the SSX.

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