A strong end to the year in the national market for initial public offerings could be a harbinger for the year ahead, according to the annual IPO Watch Australia report.
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.
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.
Minrex Resources has agreed to a reverse takeover by private firm Skin Elements, a sunscreen and cosmetics company steered by former New Tel head Peter Malone and corporate advisor Luke Martino.
Western Australian ingenuity has come up trumps again, with a planned commercial roll out of a new vending machine designed in Perth which is capable of cooking a portion of hot chips in around 90 seconds.
26 Sep 2006
Subscribe today for award-winning, unbiased and trusted journalism
