Backdoor listings or reverse takeovers on the ASX look set to beat the record this year. It’s a record set back at the peak of the dotcom boom in 2000 when 32 companies backdoor listed.
Backdoor listings or reverse takeovers on the ASX look set to beat the record this year. It’s a record, not surprisingly, set back at the peak of the dotcom boom in 2000 when 32 companies backdoor listed. For the first six months of this calendar year, there have been 16 backdoor listings – and there’s fever in the market for taking tech stocks public this way.
There are so many tech companies being backdoored into mining stocks, Kalgoorlie’s raucous annual mining conference many well need to change its name to “Diggers, Dealers & Developers".
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Nick Abrahams is the global co-leader of the digital transformation practice at Norton Rose Fulbright. He also hosts the popular Web3: From Mystery to Mainstreet podcast, about businesses embracing crypto, NFTs and the metaverse.
