6 Private Australian Companies that we wish were ASX-listed

6 Private Australian Companies that we wish were ASX-listed

Canva

We don’t think we’re alone here not only in putting this company on our list of private companies we wish were listed, but in putting it at the absolute top of our list. But it is more realistic that if it was listed, it would list overseas like Atlassian did, simply given its higher valuation. Canva is the world’s pre-eminent graphic design company.

Canva was most recently valued in April 2024 at over US$26bn (A$40bn), earns over $1.7bn in revenue, has 16m paying subscribers and 185m monthly users. This would place it just in the Top 20 Companies on the ASX, usurping stocks like Woolworths (ASX:WOW), QBE (ASX:QBE), Xero (ASX:XRO), Resmed (ASX:RMD), Pro Medicus (ASX:PME) and Cochlear (ASX:COH). And hypothetically if it went on a run like Guzman y Gomez did when it listed, it could even usurp WiseTech (ASX:WTC), Telstra (ASX:TLS) and Rio Tinto (ASX:RIO).

Hancock Prospecting

The Gina Rinehart-owned company is in iron ore in the Pilbara, having been there since founder Lang discovered it there. It also owns certain agricultural (i.e. beef and dairy) assets too. This company’s would likely be entwined with iron ore prices and thus be volatile like Fortescue (ASX:FMG). For us, the main reason we’ve put this company here is because we cannot help but imagine the optics of Ms Rinehart speaking to AGMs every year and having to answer questions from shareholders. Plus, other mining companies that face protestors outside their AGMs would likely have relief for at least a year or two in the event that Hancock listed. Alas for us, but not for Hancock, it would have listed years ago if it was ever going to.

Linfox

Linfox is a logistics giant in Australia, and we cannot help but think of how it could go in light of the success WiseTech has had – and WiseTech only has logistics software. Linfox actually has the infrastructure and personnel to undertake the deliveries and from humble beginnings in Melbourne in 1956, now employes 24,000 people across the world. Linfox slides under the radar of most of the business media without the spotlight of ASX listing requirements, for the most part. It has been in the headlines in the last 12 months because it currently owns Armaguard, the company that handles transfers and transits of cash from ATMs. As cash use plunges, it has become unprofitable and Linfox is under pressure to keep it in business anyway, but is reluctant to do so without key customers paying more.

Employment Hero

The HR software unicorn has explicitly said that it has ‘better options’ for its future than an ASX listing or the NASDAQ. This is despite the company being profitable and surpassing $250m in annual revenues. A listing of Employment Hero, especially if it was a successful listing would re-invogorate the tech IPO market. Sure the Guzman y Gomez listing as done plenty of favours, but it has been some years since there’s been a successful tech IPO, at least one valued at over $1bn (which Employment Hero was valued at in October 2023). It would also be fascinating to see CEO Ben Thompson handle the scruitany that would come with being publicly listed. He has no hesitation to say what he thinks.

Healthscope

Healthscope is Australia’s only national private hospital operator and healthcare provider. For ASX investors seeking similar companies, there is Ramsay Healthcare (ASX:RHC)…and that’s pretty much it. Healthscope actually was listed until 2019 until it got taken over by BGH Capital for over $4bn. That was some saga.

Now, we know that Healthscope underperformed during its listing, and it would need private equity to be keen to sell out for it to list again. On top of this, private equity-backed IPOs rarely do well. However, we think the market for healthcare is better than what it was pre-COVID. And concerns about hospital funding have lessened since a recent deal to extend the current contract providing for Bupa’s members to not have to pay out-of-pocket expenses.

What are the Best ASX Stocks to invest in right now?

Check our buy/sell tips