Sentences with phrase «backdoor listing»

The wave of backdoor listings on the ASX in the past year suffered a setback this week, with two deals being cancelled and a third business going into administration.

A wearable technology company founded by Perth entrepreneur Justin Miller and an Israeli medical cannabis company are the latest businesses planning to join the rush of backdoor listings on the ASX, though the news is not all positive with Voyager Global Group becoming the seventh company forced to cancel an announced deal in the past 18 months.

A planned backdoor listing by technology company Yatango, which was backed by top - shelf advisers and boasted iiNet founder Michael Malone as one of its directors, has fallen through after being hit by tough market conditions and a run - in with the corporate regulator.

Local tech firm Shark Mitigation Systems has launched a prospectus for a $ 4 million IPO, while two other WA companies have revised their plans for backdoor listings.

Tech companies Dubber Corporation and xTV Networks have announced major new deals after completing backdoor listings on the ASX, with investors in Dubber sitting on healthy gains today.

Despite the warnings of the Israeli regulator that it won't tolerate bitcoin to get somehow backdoor listed on the Tel Aviv Stock Exchange, public companies keep pivoting into the field.

Pacific Ore has become the latest backdoor listing hopeful to be held up by the corporate watchdog, though several other companies have moved forward with their reverse takeovers.

The Australian Securities Exchange has confirmed plans to toughen its listing requirements to maintain the integrity of the market, including changes that will address what it says are emerging issues with backdoor listings.

Click through to also see the BNiQ listing of 26 WA backdoor listings.

Japanese casino mogul Kazuo Okada is looking to expand his footprint in the Philippines through a possible backdoor listing.

A local exploration company led by Perth Glory owner Tony Sage is looking to join the wave of backdoor listings and become a gambling platforms provider, while technology company Velpic's reverse takeover of International Coal has reached another milestone.

Fortunis Resources has received positive news about its planned backdoor listing, while Basper and Aziana have had to make amendments to their proposals.

Finance Despite the warnings of the Israeli regulator that it won't tolerate bitcoin to get somehow backdoor listed on the Tel Aviv Stock Exchange, public companies keep pivoting into the field.

Two local miners have announced plans to exit the resources industry and move into other fields, by way of backdoor listings.

Biopharmaceutical company Bone Medical has announced plans for a reverse takeover and backdoor listing of a geospatial data intelligence company founded by Perth entrepreneur Amir Farhand.

Spookfish has made a solid debut on its first day of trading on the ASX after a backdoor listing, building on big gains over the past six months as investors were buoyed by the geospatial company's high - profile backers.

After plans for a backdoor listing fell through in 2014, former New Tel boss Peter Malone has signed up Patersons Securities as lead manager for a $ 4 million initial public offering for his sunscreen and cosmetics company Skin Elements.

Bitcoin trader Digital CC has claimed a profitable entry into the computer - generated currency sector, highlighting a $ 630,146 profit for three and a half months of business, despite the vehicle through which it conducted a backdoor listing recording an $ 11.8 million loss for the financial year.

A Subiaco - based asset management technology company is seeking an ASX listing through the reverse takeover and backdoor listing of Power Resources.

East Africa Resources has become the 36th Perth - based company to announce a backdoor listing deal in the past 18 months, with plans to exit uranium exploration and acquire local security services business Threat Protect Australia.

Subiaco - based Paynes Find Gold is seeking to become a lithium miner through the reverse takeover and backdoor listing of a European mining company backed by local businessman Tony Sage.

Stratum Metals has become the sixth Western Australian company to cancel a backdoor listing deal in the past year, with the Nedlands - based business reviewing its future options, including plans for the East Menzies gold project, after walking away from a planned reverse takeover of a US technology venture.

Online advertising business Tech Mpire has made solid gains on its first day of trading on the ASX, after being acquired by Fortunis Resources in a $ 3.1 million backdoor listing.

Shares in TW Holdings slumped sharply today after it announced a backdoor listing of medical cannabis company AusCann Group Holdings, the second deal of this type involving members of the Washer family.

A Subiaco - based piping company led by businessman Andrew Haythorpe has announced plans to buy a New Zealand tech company, in a backdoor listing worth about $ 5.5 million.

Two Perth - based resources companies are planning to switch sectors with the acquisition of cancer - based biotechnology firms, with one planning a backdoor listing and the other seeking support for an IPO.

Perth - based biotech company ResApp Health had a steady first day of trade on the ASX today, after being acquired by Narhex Life Sciences in an $ 11 million backdoor listing.

MSM Corporation International and Department 13 International both debuted on the ASX today, after completing their respective reverse takeovers and backdoor listings.

A former gold mining company led by Peter Gunzburg has announced plans for a reverse takeover and backdoor listing of a Swiss biotech firm.

Quintessential Resources is set to relist on the ASX tomorrow after morphing into technology incubator Yonder and Beyond, but plans by three travel businesses, including George Michalczyk's Motive Travel, to undertake a backdoor listing through Red Gum Resources have fallen through.

Subiaco - based Lithex Resources will make a second attempt at a backdoor listing, announcing plans to acquire an Israel - based battery technology company in a deal worth $ 28.7 million.

West Perth - based explorer Monto Minerals has joined the wave of backdoor listings, with the company announcing plans to acquire a US tech company for $ 13 million.

Minerals Corporation, which in 2013 was one of the first Perth - based mining companies to attempt a backdoor listing, has announced plans to exit the resources sector by acquiring an online music competition business.

A local consumer services technology company currently in the middle of a backdoor listing has welcomed former iiNet chief executive Michael Malone to its board as a director.

A local oil and gas explorer led by Steinepreis Paganin partner Peter Wall has announced plans to acquire a digital technology company in a backdoor listing.

BGD Corporation is the latest Perth - based company to initiate a backdoor listing, announcing today that it intends to establish a primary healthcare business by purchasing assets held by Modern Medical.

Perth - based Bone Medical has made a second attempt at a backdoor listing, today announcing plans to acquire a US dermatology company and adopt its business model.

Subiaco - based software company K2fly has kicked off its national roadshow in the hopes of raising up to $ 5 million before a backdoor listing on the ASX, despite a recent shift in market sentiment.

Fitzroy Resources has announced plans to wholly acquire Californian technology company 4D - S, in a backdoor listing valued at about $ 7.7 million.

Parmelia Resources has announced plans for a reverse takeover of a NSW - based software company, while one of the first local companies to complete a backdoor listing has flagged a new acquisition.

The surviving board is reportedly now planning to shut the company down and sell off its assets, and seek interest for a backdoor listing.

Applecross - based financial services company Questus Capital Group Pty Ltd is seeking a backdoor listing on the Australian Securities Exchange through failed Belmont - based company Financial Resources Ltd..

The Philippine Star reported that Okada is toying with the idea of joining the Philippine Stock Exchange through a backdoor listing.

Bubs undertook a backdoor listing in January, 2017 through the shell of Hillcrest Litigation Services, raising $ 5.2 million at an issue price of 10 cents per share.

A backdoor listing is another way for an unlisted company and its business to become listed on a share market, such as the ASX, rather than listing through an IPO.

A backdoor listing is an easy way to create the required broad shareholder base.

Backdoor listings are an alternative to an initial public offering for a company wanting to list on a stock exchange.

A backdoor listing (also called a reverse takeover) occurs when an unsuccessful listed company acquires an unlisted company in exchange for cash or shares in the listed company.

When a public company announces a backdoor listing, shareholders can expect the company to make a number of further announcements, which they can use to find out about the incoming company and track the process of the reverse takeover.