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.
Online advertising business Tech Mpire has made solid gains on its first day of trading on the ASX, after being acquired by Fortunis Resources in a $3.1 million backdoor listing.
Fortunis Resources has received positive news about its planned backdoor listing, while Basper and Aziana have had to make amendments to their proposals.
Minerals Corporation, which in 2013 was one of the first Perth-based mining companies to attempt a backdoor listing, has announced plans to exit the resources sector by acquiring an online music competition business.
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.
Subiaco-based telecommunications company ZipTel has completed a $5 million placement, ahead of the launch of its ZipT international calling app next month.
Subiaco-based ZipTel is gearing up to compete with a number of major telecommunications companies as it prepares to launch its internet-based communications app.
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.
Owners of graphite stocks have enjoyed strong returns during the past year on the back of demand for the mineral's use in lithium ion batteries, however it is the potential to tap new markets that has some in the sector even more excited.
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.
Telecommunications firm ZipTel has signed a marketing deal with Zhenya Tsvetnenko's Mpire Media to promote the former's ZipT smartphone application in more than 120 countries.
