Small companies hoping to list on the stock market are facing tougher conditions, with more than a dozen announced deals in Western Australia hitting problems this year and the ASX foreshadowing tighter regulation of new deals.
Shares in technology hopeful Oz Brewing jumped 33.3 per cent after it concluded a reverse takeover deal with 3D printing company 333D, which was more than a year in the making.
A surge in the number of backdoor listings was one of the few positives on the stock market in 2014, and two new deals for technology companies show there is more to come.
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.
Subiaco-based graphite player Kibaran Resources has achieved some preliminary success in developing a process to convert the carbon-based mineral into graphene.
Mount Pleasant-based Oz Brewing Ltd will head to the Federal Court next month following an application by a noteholder to appoint a provisional liquidator to the company.
The recent decision by two of Western Australia's microbrewers to sell up could present growth opportunities for the industry's remaining players, according to Gage Roads CEO Nick Hayler.
Boutique brewing company Oz Brewing Ltd has suspended trading of its shares indefinitely pending the release of an announcement relating to its acquisition of assets from Shedco Group Pty Ltd.
Boutique brewing company Oz Brewing Ltd has finalised plans to acquire a manufacturer of sheds and portable accomodation, while also disclosing that its plans for a second retail outlet in Dunsborough have been blocked.
Lower than expected trade at its flagship Mad Monk brewery in Fremantle has seen Oz Brewing Ltd post a net loss after tax for the half-year to December 2007 of $702,923, up from a $154,054 loss in the previous half year.
Mount Pleasant-based Oz Brewing Ltd will acquire a 50.1 per cent stake in Greenwood-based shed builder Shedco and transportable buildings manufacturer Eco Transportables for $5.4 million.
West Perth-based microbrewer Oz Brewing Ltd will outsource future beer production to Palmyra-based Gage Roads Brewing Company Ltd under a two-year contract, the company announced today.
Perth-based craft brewing company Oz Brewing Ltd has closed its Initial Public Offer oversubscribed ahead of a planned pre-Christmas ASX listing, the company announced today.
Perth-based craft brewing company Oz Brewing Ltd aims to raise $1.5 million through an IPO to establish a café and microbrewery at the old Miss Maud site on Fremantle's cappucino strip.
