The wave of backdoor listings on the ASX has delivered nearly $90 million of extra capital to the tech sector in Western Australia, but the trend hasn't all been positive, research by Business News has found.
Select Exploration has brought in a new broking firm to support a $5 million capital raising, ahead of its planned reverse takeover of rent.com.au, after Bailleau Holst backed out of its appointment as joint lead manager.
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.
Perth-based residential rentals-dedicated website rent.com.au is going public, unveiling a $10 million-plus plan to list on the Australian Securities Exchange via a backdoor listing through Select
Cherie Leeden returned from the front line to the conference room last week, telling Metals of Africa shareholders in Perth and Sydney about the copper, zinc and high-grade lead found at the surfac
