BRIAN GAYNOR: CDL and Millennium & Copthorne – successful back door listings but….

Wed, 27 May 2020

CDL Investments New Zealand and Millennium & Copthorne Hotels New Zealand, two backdoor listings, held their virtual annual meetings yesterday. Both companies have had chequered histories but, unlike most NZX reverse takeovers, they have been relatively successful. CDL and Millennium & Copthorne’s main feature is that they acquired genuine businesses through their reverse takeovers whereas most NZX backdoor listing have pie-in-the-sky characteristics. However, yesterday’s annual meetings illustrated that the two companies have challeng...

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