Australia’s bourse is in the middle of a strategy reset as it seeks to regain the confidence of officials and stakeholders after years of technical issues and delays. It has agreed to overhaul its technological upgrade programme as part of a series of commitments following a probe by the regulator.
(May 26): ASX Ltd shares tumbled the most in more than a decade after the embattled exchange operator increased its capital spending guidance as it upgrades critical market infrastructure.
The stock fell as much as 13%, the most since August 2012, after ASX boosted its capital expenditure target to between A$180 million and A$200 million (US$129 million to US$143 million or $164.77 million to $183.08 million) for the financial year starting July 1, according to a filing Tuesday. It previously saw capex in the range of A$160 million to A$180 million.
