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.
The company behind the reverse takeover of local cloud-based technology company Norwood Systems has raised $5.5 million in an oversubscribed share offer.
Tech companies Dubber Corporation and xTV Networks have announced major new deals after completing backdoor listings on the ASX, with investors in Dubber sitting on healthy gains today.
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.
