New listing rules this year have slowed the backdooring that has gone on in the past and especially in the last 2-5 years where absolute undercapitalised crap has been allowed to list in so many cases just used by promoters to talk up and exit while due to ASX listing qualifying for access on other exchanges. The scam has partially ended in regards to backdoor listings and other rules in regards to losses are IMO now being looked at closer by ATO to ensure they are in correct industry etc.
It is no longer a guarantee of being cheaper to backdoor rather than to IPO and risks have changed somewhat compared to years gone by. Still OK for right shell with right spread of holders etc.
i can't tell if it is expensive until some info is forthcoming but is isn't worth what pumpers posting are speculating IMO
https://www.bakermckenzie.com/en/insight/publications/2017/11/asx-changes
https://www.moneysmart.gov.au/investing/shares/keeping-track-of-your-shares/backdoor-listings
New listing rules this year have slowed the backdooring that has...
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