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Article: Reverse listings - cut them off at the pass

Article from:
Sunday Star-Times
Article date:
December 21, 2008
Author:
Copyright

REVERSE OR "backdoor" stockmarket listings used to be a tremendous bit of fun.

Against a wild west backdrop of 1980s' New Zealand - where insider trading was not yet illegal - it was fabulous sport to spot the next candidate for a reverse takeover. All you had to do was buy into a listed entity that had recently flogged off (or lost) all its assets and wait for it to be reverse-acquired by one of the instant success companies of which there were so many then. Voila. Instant riches.

But that was then. The recent record of backdoor listings is littered with car crashes. A high degree of investor misery has been caused.

For every reverse listing success, such as Abano Healthcare, you can ...

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