Westfield’s Lowy bids farewell to ASX as OneMarket bows out

Steven Lowy has made his last speech as the head of a publicly listed company as he presided over the delisting of his OneMarket retail data business from the Australian Securities Exchange.

OneMarket was listed in mid-2018 as a spin-off from the Westfield retail empire which Mr Lowy co-ran with his father Sir Frank Lowy and brothers Peter and David Lowy until it was sold in late 2017 for $32 billion to Unibail-Rodamco.

Steven Lowy is the chairman of data group OneMarket.Credit:Daniel Munoz

On Monday, after failing to find a buyer or a potential merger partner, the business was officially wound up.

In its first year of listing, OneMarket, which was born out of the Westfield Labs business, churned through about $180 million of cash. It lost vital contracts with retail clients, including US department store chain Nordstrom, and struggled to attract investors because many viewed it as a startup.


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