Vmob backdoor listing lends credibility as voucher app vendor seeks rapid Asian expansion

Mon, 27 Aug 2012

By Paul McBeth Aug. 28 (BusinessDesk) - VMob, the Auckland-based smartphone voucher application firm, has completed a backdoor listing on to the stock exchange's small-cap NZAX in a bid to boost its credibility as it seeks to expand into developing economies, starting with Asia. Shareholders in shell company Velo Capital last week approved the reverse takeover, accepting the tech start-up's plan to grow its revenue base to $16.6 million by 2014/15 by clipping the advertising ticket through its discount voucher offering. The deal will pay $10...

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