Ecofibre Limited (ASX: EOF) delisted from the ASX

Ecofibre Limited was an Australian biotechnology company focused on hemp-derived products and technologies. The company listed on the ASX on March 29, 2019, through an IPO that raised $20 million at $1 per share, giving it a market capitalization of $309 million on listing¹. The business was headed by rich-lister Barry Lambert, who is best known for building Count Financial, which he sold in 2011 to Commonwealth Bank for $373 million².

The company aimed to become a leader in hemp. The company developed cannabinoid oils, nutraceuticals, and hemp-derived food ingredients for consumers and retailers in Australia and the United States, with operations including its US subsidiary Ananda Hemp³.

Ecofibre faced mounting financial pressures throughout 2024 and early 2025. The company reported a net loss of $18 million for the six months ending December 31, 2024, compared to a $45.7 million loss a year earlier. Net cash outflow from operations totaled $7.2 million⁴. Despite these improvements, the company struggled with ongoing liquidity challenges and debt obligations.

On May 2, 2025, Ecofibre entered voluntary administration with KordaMentha appointed to handle the company's financial affairs, and the ASX subsequently suspended the company's shares from trading⁵.

The final chapter came today, when ASX Limited officially removed Ecofibre Limited (ASX: EOF) from the official list. The removal occurred because the company failed to pay its annual listing fees for the year ending June 30, 2026, by the August 28, 2025 deadline under Listing Rule 17.15⁶.

The progression from trading suspension in May 2025 to complete removal from the ASX in August 2025 marked the definitive end of Ecofibre's public company journey. This development serves as a reminder of the challenges facing companies in the emerging hemp and medicinal cannabis sectors.

Ecofibre's journey from hemp technology venture to ASX delisting illustrates the challenges in the biotechnology and hemp sectors. While positioned in a growing market with long-term potential, the combination of operational losses and inability to secure adequate funding has led to administration and eventual delisting.

References

1. Stockhead, "IPO Watch: Barry Lambert's Ecofibre hits the ASX with a bang," March 29, 2019. Available at: https://stockhead.com.au/health/ipo-watch-barry-lamberts-ecofibre-is-about-to-hit-the-asx/
2. Next Investors, "Ecofibre successfully lists on the ASX," March 29, 2019. Available at: https://nextinvestors.com/articles/ecofibre-successfully-lists-asx/
3. Small Caps, "Ecofibre joins ASX to fast-track commercialisation of hemp-based products," February 1, 2024. Available at: https://smallcaps.com.au/ecofibre-joins-asx-fast-track-commercialisation-hemp-based-products/
4. Business News Australia, "ASX-listed biotech Ecofibre calls in administrators," May 2, 2025. Available at: https://www.businessnewsaustralia.com/articles/asx-listed-medicinal-cannabis-company-ecofibre-calls-in-administrators.html
5. Business News Australia, "ASX-listed biotech Ecofibre calls in administrators," May 2, 2025. Available at: https://www.businessnewsaustralia.com/articles/asx-listed-medicinal-cannabis-company-ecofibre-calls-in-administrators.html
6. ASX Limited, "Market Announcement - Removal from Official List," August 29, 2025.
7. Wikipedia, Ecofibre.

Note: This article reflects publicly available information as of August 29, 2025.