2015 was a busy year for companies looking to "backdoor" list onto the Australian public equity market the ASX.
Private companies looking to list on the stock market either have a choice of an IPO (Initial public offering) or a reverse listing (or backdoor listing) through an existing publicly listed company.
Typically what happens is that the listed companies have a business that has suffered and is trading at very cheap levels - Usually below a $10m MCAP. These companies or "shell companies" do have something of value and that is a cheaper way for a private company to list through a back door listing by raising capital and a takeover of the previous listed company.
2015 saw 155 companies change name/code through the backdoor listing process* due to continued poor conditions for the small/micro capped mining/mineral/oil companies.
*Note some of the below are company ticker code changes and not backdoor listings.
See below a list of all companies that changed names in 2015 :
PS. Time to dig deeper