The ASX doesn't owe you anything
Shekel Brainweigh listed on the ASX at a $48m valuation and is now delisting with its stock down 94%. The story is a reminder that the market's job is only to give you access to liquidity; promoting the business and engaging shareholders is still on you.
Ben Williamson
28 November 2024 · 3 min read
Back in 2019 an Israeli company called Shekel Brainweigh raised $10m at $0.35 and listed on the ASX, valuing the company at $48m market cap.
The ASX has, over time, targeted a number of overseas markets, including Israeli tech companies. "Don't wait until you are a $1bn company to go to the Nasdaq, where you will still be small. Come to Australia, where there is a vibrant community of retail and HNW investors to back you, invest, and grow along with you!"
Or so goes the sales pitch.
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