BRIAN GAYNOR: SeaDragon – another dud from Wikeley, Sorensen, Wilkinson & Joyce

Thu, 21 May 2020

The proposed delisting of SeaDragon concludes a sorry saga of NZX reverse takeovers.The company originally joined the NZX in 1986 as Regal Salmon and has had seven unsuccessful reincarnations since then.This column is not opposed to backdoor listings provided they are done properly. However, the NZX’s backdoor listing activity has been dominated by a small number of individuals who have consistently dumped loss-making companies on the investing public.SeaDragon’s first backdoor listing was in mid-1997 and since then it has reported...

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