Dark cloud over backdoor listings

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.


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What needs to also be mentioned is that Yatango will still offering its prospectus with a revised date of August 14. While the official spin might have it that the minimum raising of 6 mill could not be reached, there was still a day left. And according to the prospectus that minimum had to be met within four months of the prospectus opening. It is only 6 weeks in. Something definitely fishy here

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/12/18

1 year TSR5 year TSR
302ndLatitude Consolidated-9%-28%
390thBulletin Resources-21%82%
504thFrontier Resources-36%-39%
681stMount Burgess Mining-60%-9%
717thTamaska Oil & Gas-65%-53%
716 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$43k Bought
$0 Bought
$0 Bought
Total value as at the date of the transaction
Source: Morningstar


311th↓Latitude Consolidated$29k
318th↑Bulletin Resources$23k
319th↓Tamaska Oil & Gas$21k
321st↑Mount Burgess Mining$20k
322nd↓Frontier Resources$20k
513 listed resources companies ranked by revenue.
Source: Morningstar

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