CDC’s mega debt package | ART prepare s to lift ElectraNet stake | Santos suitor br ings in Labor big guns

Good evening,

The Canadian Securities Exchange’s proposed acquisition of ASX-listed National Stock Exchange of Australia could transform the Sydney-based listings market into a significant platform for early-stage and small-cap companies, says Macquarie’s research boffins.

In a note to clients, analyst Andrew Buncombe said with Canadian backing, NSX, together with Cboe, could credibly go after 544 companies, or just shy of 30 per cent of the ASX-listed market. He estimates this market is worth $50 million in revenue – $20 million in annual listings revenue, $10 million in initial public offering fees and $20 million in secondary fees.

Buncombe expects the NSX to focus on the smaller end of the market, especially the life sciences and early-stage technology sectors.

Read the full story tomorrow and more on the Street Talk page.

The Australian Retirement Trust is preparing to increase its stake in South Australia’s electricity transmission network ElectraNet, a monopoly infrastructure asset that was privatised by the state government 25 years ago and now owns more than $4.5 billion in assets.

The Australian sharemarket swung between gains and losses on Wednesday as a sell-off in mining and energy stocks was offset by a fresh record for index heavyweight Commonwealth Bank.

Click here for the latest equity market wrap.