BRIAN GAYNOR: Me Today – another beauty from backdoor experts

The backdoor listing of Me Today through CSM Group appears to be a positive development for the beleaguered NZX because such transactions partially compensate for the dearth of IPOs.The new company, which had revenue of only $407,333 for the nine months to Dec. 31, is now worth $31 million even though CSM’s previous forays into New Zealand residential real estate, Chilean iron ore mining, Chinese private equity and Australian scrap metal have been total disasters.Backdoor listing experts present these transactions as new and exciting deal...