The last 10 days of 2016 were a busy period for WA corporate deals, with the Rae family attracting a bumper price for its Gull New Zealand business, Chinese group MMG selling the Golden Grove mine, Diploma Group going into receivership and seven new listings on the ASX.
Israel-based materials company Dotz Nano has joined the wave of tech firms from that country seeking to raise capital in Australia via a listing on the ASX.
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.
Perth entrepreneur Zhenya Tsvetnenko has announced plans for a backdoor listing of his online advertising business Mpire Media, two months after an earlier, more generous deal was terminated.
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.
Lithex Resources has scrapped its planned purchase of internet marketing business Mpire Media, which was the second business Perth entrepreneur Zhenya Tsvetnenko was seeking to list on the stock market.
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
The run of technology companies taking advantage of lacklustre mining stocks based in Perth is continuing, with three more backdoor listings expected to be completed this month and another towards the end of the year.
Final steps are underway for Perth-based global marketing venture Mpire Media's reverse takeover of Lithex Resources, with the junior explorer appointing Shaw Stockbroking as lead manager to its $10 million capital raising.
Perth technology entrepreneur Zhenya Tsvetnenko is taking another of his ventures public with a second reverse takeover of a struggling mining stock in four months.
Lithex Resources chairman Malcolm Carson has been appointed executive chairman, to replace managing director Robert Mandanici, who has resigned from the company to pursue other business interests.
