Australian mining investor eyes $53m backdoor listing

Mon, 06 Apr 2020

Australian mining investor All Industrial Network plans to list on the NZX via a reverse listing of Aorere Resources.AIN was set up last year to buy Queensland mining support and services provider SMW Group and BAE Engineering. Those two firms collectively employ almost 400 staff and generated $5.4 million of earnings before interest, tax, depreciation and amortisation on revenue of $51.4 million in the year ended June 2019.The NZX-listed company will issue $53 million of new shares to AIN, and will then change its name to SMW Group.The deal is...

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