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.
A Subiaco-based piping company led by businessman Andrew Haythorpe has announced plans to buy a New Zealand tech company, in a backdoor listing worth about $5.5 million.
Wangara-based Vortex Pipes has requested reinstatement of its shares on the Australian Securities Exchange, after entering a refinancing agreement with Carmichael Corporate.
