Being a private company they would no doubt have fewer shareholders than a listed company like us and as you say would have sounded out the larger holders.
Private equity investment is a big thing these days, not like it was 10 or so years ago, so they don't necessarily have to go the public route if they want to raise money.
Though backdoor listings are quite common, I have never seen one Matrix said was proposed in yesterday's announcement. I just don't see how it can benefit both groups of shareholders at the same time. The Fin Review would have sourced their material from associated Brokers, they are quite often very close to the mark, I just think what will end up happening (if at all) will be very different to what Matrix said AIS proposed, and who knows what their fall back position is.
MCE Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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