History of ASX mass delistings over listing fees
September 4, 2025
The ASX requires companies to pay their full financial year listing fee by late August each year and names those who haven't paid, with the threat of delisting within a week. Here is a list looking back at major culls over the years. Also, here is the long term suspended list released on April 9, 2025 plus this update on July 16, 2025.
1990: On October 5, the then not-for-profit ASX delisted 140 companies in one day for not paying their listing fees, according to this story in The AFR.
2001: these 12 companies got mass delisted on August 30, 2001 for failing to pay their fees.
2002: these 18 companies got mass delisted on Friday, August 30, 2002, for failing to pay their listing fees. This was also the last day of the reporting season.
2003: a total of 5 companies were suspended on August 25 and a further 41 already suspended companies were threatened with delisting if outstanding fees weren't paid by bank cheques before 5pm on Friday, August 29, 2003. The ASX ended up with 7 mass delistings on September 1, 2003.
2004: a total of 34 companies were threatened with delisting on August 25 and the ASX ended up with 12 mass delistings on August 30, 2004.
2005: 2 companies were suspended another 30 already suspended companies were threatened with delisting on August 22 and the ASX ended up with only 4 delistings on August 29, 2005.
2006: 3 companies were suspended and a further 28 already suspended companies were threatened with delisting on August 23 and the ASX ended up with 6 delistings on August 29, 2006.
2007: 1 company was suspended and a further 20 already suspended companies were threatened with delisting on August 23 and the ASX ended up with 5 delistings on August 29, 2007.
2008: 2 companies were suspended and a further 29 already suspended companies were threatened with delisting on August 25 and the ASX ended up only delisting 1 company (IXLA Ltd) on August 29, 2008.
2009: A record 57 companies, most of which were already suspended, were named by the ASX on August 25 and given until August 31 to pay up by bank cheque. In the end, these 18 got mass delisted on September 1, 2009, which was the biggest mass cull in a decade.
2010: a total of 40 suspended companies were threatened with delisting on August 24 and the ASX ended up with 12 mass delistings on August 29, 2010.
2011: a total of 2 companies were suspended and 42 already suspended companies were threatened with delisting on August 23 and the ASX ended up with 13 mass delistings on August 30, 2011.
2012: a total of 39 mainly suspended companies were threatened with delisting on August 23 and the ASX ended up with 11 mass delistings on August 30, 2012.
2013: a total of 4 companies were suspended and another 44 already suspended companies were threatened with delisting on August 23 and the ASX ended up with 18 mass delistings on August 30, 2013.
2014: A hefty 55 companies were named on August 25 and they ended up with 11 mass delistings on August 29, 2014.
2015: a massive 80 companies were named on August 25 but 79 were already suspended. They ended up with 25 mass delistings on August 31. There has been no bigger single day cull since. However, the monthly drop in August was only 17 from 2224 on July 31, 2015 to 2207 on August 31, 2015.
2016: 68 companies were named on August 23 with 66 already suspended and the ASX ended up with 22 mass delistings on August 30. There has been no bigger single day cull since. However, the monthly drop in August was only 18 from 2210 on July 31, 2016 to 2192 on August 31, 2015 after 34 delistings and 16 new listings for the month.
2017: 37 companies were named on August 22 with all but one already suspended but the ASX ended up with only 4 delistings on August 28, so the debt collectors did a good job this year.
2018: a total of 35 already suspended companies were named on August 22 and the ASX ended up with only 7 delistings on August 28, a survival rate of 80%.
2019: a massive 64 companies were named on August 21 with all but one already suspended and the ASX ended up with 19 mass delistings on August 29, 2019.
2020: a total of 24 already suspended companies were named on August 21 and the ASX ended up with only 6 delistings on August 28.
2021: a total of 23 already suspended companies were threatened with delisting on February 22, 2021 and the ASX ended up with 6 delistings on February 26, 2021.
2022: 21 already suspended companies were threatened with delisting on August 22 and there were 8 delistings for non-payment on August 29, 2022.
2023: a total of 32 companies were named on August 21 with all but one already suspended and the ASX ended up with 16 mass delistings on August 28.
2024: 30 companies were named on August 22 with Keybridge Capital the only one which was still trading. They had until August 28 to pay up and these 14 ended up getting mass delisted.
2025: A total of 35 already suspended companies were told on August 22 that they had until August 28 to pay up and they ended up doing a mass cull of 22, the equal second largest since 1990 and the biggest since 2015. This led to the biggest monthly drop since 1990 when August 2025 only delivered 4 new listings to offset the 40 delistings, the majority of which were from the mass cull. The net drop was 36 to a 19 year low of 2,056.
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