How to buy Afterpay shares in Australia

Afterpay's meteoric rise in 2020 saw Australians jump to buy APT stock in droves. But its subsequent acquisition by US tech firm Square followed by rumours of a delisting from Australia's stock market left investors with questions.

In this guide we'll look at what happened to Afterpay shares and what you need to do if you're looking to invest in the Australian buy now pay later (BNPL) company.

What's Afterpay's story?

Afterpay Limited is an Australian payments company best known for its buy now pay later (BNPL) service.

It was founded in 2014 in Australia and has since expanded into the United States, New Zealand, Canada, the United Kingdom, France, Italy and Spain. As a strong contender in the digital payments and credit space, Afterpay has been a market favourite since it launched onto the stock market in 2016.

What happened to Afterpay shares?

In 2021, the company was acquired by US tech giant Block (prev. Square, Inc) which was subsequently listed on the Australian Securities Exchange (ASX) under the ticker code SQ2.

Here's a timeline of events:

• In August 2021 – Square Inc (now Block Inc), which is listed on the NYSE (SQ), announced acquisition of Afterpay
• Afterpay (ASX: APT) was officially delisted from the ASX on 19 January 2022, following completion of the deal.
  • Afterpay shareholders received Square (Block Inc) shares, issued as CHESS Depositary Interests (CDIs) under the ticker ASX: SQ2.
• January 2022 – Square Inc rebrands to Block Inc
• January 2025 — Block Inc changed its ticker code from SQ to XYZ on both the NYSE and ASX

How do I buy Afterpay shares?

Afterpay is no longer listed on the Australian Securities Exchange (ASX) which means you can't directly buy shares in it. But you can buy stock in its parent company Block Inc (previously Square) which is listed on the NYSE and on the ASX as CDIs.

To buy Block shares, you'll need to sign up to a broker with access to the ASX or NYSE. Our table can help you compare share trading platforms and choose or you can see our list of the best share trading platforms in Australia. Then follow these steps.

1. Open and fund your brokerage account.
   Complete an application with your personal and financial details, including your ID and tax file number. Fund your account with a bank transfer, PayPal or debit card.
2. Search for Afterpay.
   Find the share by name or ticker symbol (XYZ). Research its history to confirm it's a solid investment against your financial goals.
3. Purchase now or later.
   Buy today with a market order or use a limit order to delay your purchase until Block reaches your desired price. Look into dollar-cost averaging to spread out your risk, which smooths out buying at consistent intervals and amounts.
4. Decide on how many to buy.
   At today's price, weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs.
5. Check on your investment.
   Congratulations, you've invest in Afterpay through Block. Optimise your portfolio by tracking how your stock and the business performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that affect your stock.

What happens if Block delists from the ASX?

If you own Block CDIs (ASX:XYZ) and they are delisted from the ASX, the stock may be converted into XYZ shares on the NYSE. If your brokerage account already offers US stock trading, this transition may be relatively smooth. If not, you may need to open an account with a trading platform that offers US stocks and organise a transfer.

Ahead of the delisting you may also be able to sell your CDIs on the ASX or be given an opportunity to sell directly to the company in a 'buy back' scheme.

• What happened to my Afterpay shares?

  After Block (prev. Square) acquired Afterpay, your APT shares were delisted from the ASX and converted into SQ2 CDIs (still traded on the ASX). In January 2025, the ticker symbol was changed to ASX:XYZ.

• What's Afterpay's stock code on the ASX?

  Afterpay shares were converted into CDIs after Block acquired the BNPL firm. They now trade under the ticker ASX:XYZ.

• Is Tesla listed on the ASX?

  No, Tesla is not listed on the Australian Securities Exchange. Tesla is listed on the Nasdaq exchange in the US, however you can still buy Tesla shares from Australia by signing up to a trading platform that offers US stocks.

• Is Afterpay still on ASX?

  No, Afterpay shares are no longer listed on the ASX. All Afterpay shares were converted into SQ2 CDIs after US tech firm Square (now Block) acquired the company. Today these trade under the ticker symbol XYZ.

• Why was Afterpay delisted?

  Afterpay stock (APT) was delisted from the ASX after US tech firm Square (now Block) acquired the company. These shares were instead converted into Block CDIs under the ticker symbol SQ2. Today they trade on the ASX under XYZ.