Alto Capital

PERTH'S stockbroking scene has undergone some major changes over the past year as the sector repositions itself to take advantage of growing market confidence.

THE Australian Securities Dealers Association has criticised new Commonwealth regulations that prevent 450 financial service businesses from paying standard brokerage fees to their advisers.

WESTERN Australian stockbrokers CPS Securities and Indian Ocean Capital have agreed to merge to create the ninth biggest stockbroking operation in the state.

Collapsed engineering firm Forge Group’s old premises in West Perth have firmed as a likely landing spot for automotive parts buying group Capricorn Society, which is looking to consolidate its office requirements into one location.

Red Gum Resources and White Star Resources are the latest exploration companies to shift focus away from the resources sector, signing deals to move into geospatial imagery and internet travel bookings respectively.

Perth-based Magnolia Resources has engaged two brokers to undertake a $5 million capital raising as part of its reverse takeover of Canadian e-commerce company PDT Technologies.

The market appetite for backdoor listings of tech stocks continues unabated, with Magnolia Resources securing $7 million in funding commitments and Potash Minerals becoming the fifth exploration company from Western Australia to head down the tech path this month.

Perth security company Threat Protect Australia marked its listing on the ASX today with news it has completed due diligence on one of two planned acquisitions.

Local tech firm Shark Mitigation Systems has launched a prospectus for a $4 million IPO, while two other WA companies have revised their plans for backdoor listings.

Tim Levy has already built two successful businesses, and has global ambitions for his latest startup.

Investor interest has swung strongly towards the resources sector this year, but opportunities remain for tech companies aiming to list on the ASX.

3D printing firm Aurora Labs has wrapped up its first day of trading on the ASX, after raising $2.8 million in its initial public offering.

Technology company Family Zone Cyber Safety has wrapped up its first day of trading on the ASX, after completing an oversubscribed initial public offering to raise $6 million.

Waste water treatment company De.Mem has debuted strongly on the Australian Securities Exchange, after completing a $4.5 million initial public offering.

Cockburn-based security surveillance technology company Spectur is seeking to raise up to $4.5 million by way of an initial public offering, and list on the ASX.