Overview
ASX Listings and IPOs
Luma Legal advises companies on every aspect of their ASX listing, whether by IPO, reverse takeover or cross-listing. We work with founders, boards and deal teams to guide the legal process and keep the transaction moving.
Our experience spans resources, technology, retail, property and industrials. We understand the regulatory landscape and the commercial realities that drive listing decisions, and help our clients move with confidence, speed and focus.
We work seamlessly with corporate advisers, brokers, investment banks and accountants, taking a collaborative, commercial approach to every transaction.
What we do
Our services.
Corporate structuring
Group restructures, governance frameworks and pre-IPO requirements to ensure the business is listing-ready and aligned with ASX and investor expectations.
Seed and pre-IPO funding
Capital raising prior to listing, including seed rounds, convertible notes and hybrid structures.
Due diligence
Leading and managing legal due diligence, including establishing Due Diligence Committees and coordinating with the broader advisory team.
Prospectus preparation
Drafting and reviewing the legal sections of the prospectus and supporting documentation, ensuring it meets ASIC and ASX standards while remaining clear and investor-friendly.
ASX engagement
Handling ASX in-principle advice, waiver applications and regulatory engagement, removing friction and pre-empting issues before they arise.
Post-listing support
Ongoing compliance, governance advice and corporate transactions to ensure listed clients meet their obligations and capture new opportunities.
Why Luma
Technical precision, commercial focus.
We combine technical precision with commercial insight. The listing process is fast-moving and unforgiving, and our role is to keep it on track, manage the regulators, and let the rest of your team focus on the business and the market.
Experience
Recent work includes acting for ASX-listed resources companies on IPOs, reverse takeovers and post-listing capital raisings.
Advised on prospectus preparation, due diligence committee processes and ASX engagement for resource and technology sector listings.
FAQs
Common questions.
An ASX IPO typically involves preparing a prospectus, undertaking legal and financial due diligence, obtaining regulatory approvals, satisfying ASX admission requirements, and completing a public offer of shares. We guide clients through each step.
The timeline depends on your business readiness, but a typical ASX IPO process takes between 3–6 months from start to listing.
A prospectus is a legal document that provides detailed information about your company and the securities being offered. It must include information on your business, financials, risks, directors, and how funds will be used.
An IPO is a direct listing of your company. A backdoor listing (or reverse takeover) involves acquiring control of an existing listed company and using that company as the listing vehicle.
Legal costs for an IPO vary based on the complexity of the business and offer. Typical legal fees range from ~$100k–$200k for small to mid-cap IPOs. We provide clear fee estimates upfront.
You must comply with the ASX Listing Rules and the Corporations Act, including continuous disclosure obligations, periodic financial reporting, corporate governance requirements (including under the ASX Corporate Governance Principles and Recommendations), and ongoing shareholder communications.
Related insights
Our recent thinking on asx listings.
ASX Listings
Common Legal Mistakes During the IPO Process and How to Avoid Them
The most common legal mistakes that derail or delay an IPO, and practical steps boards and management teams can take to avoid them.
December 2025 · 6 min read
ASX Listings
Continuous Disclosure Obligations: What Every Newly Listed Company Should Know
Continuous disclosure obligations under the ASX Listing Rules and Corporations Act explained for newly listed companies and their boards.
December 2025 · 6 min read
ASX Listings
Cross-Listing on the ASX: Key Legal and Regulatory Issues to Navigate
Key legal and regulatory considerations for foreign-incorporated companies cross-listing on the Australian Securities Exchange.
December 2025 · 6 min read
Related expertise
Other areas we work in.
Capital markets
Capital Markets
Clear advice and seamless execution across placements, rights issues, convertible securities and hybrid instruments.
Transactions
M&A
End-to-end legal support for public and private M&A, from term sheet to completion.
Sector
Mining & Resources
Specialist legal advice for explorers, developers, producers and investors, from tenement to listing.
Let's talk.
Whether you are navigating a major transaction or refining how your business operates, we provide legal advice that is timely, strategic and grounded in commercial reality.