Kunleesp, WMC was established in Australia in July 2015 and...

Kunleesp,

WMC was established in Australia in July 2015 and acquired 100% of Kuayu from the parent company (World Win) on 3 August 2015 for a purchase consideration of $1,748. Net assets (equity) of Kuayu at the time of acquisition were $45 million with profit of $6.6 million. The assets of WMC (a parent company) are $135. In this case, WMC and its subsidiaries satisfy the profit and asset criteria as per the ASX listing rules. WMC listing on ASX on 21 Dec 2015 with an offer price of $0.20. The closing price on last Friday (5 Feb 2016) was $0.40.

ODN and gridComm differ from WMC.
As per the Singapore Exchange (SGX) listing rules, firms can only go public on the main board i.e., SGX after satisfying the profit and asset criteria for a specified period of time. Hence, this may be the reason why gridComm needs ODN for back door listing on the ASX. Unlike in Singapore, the ASX (Australian Securities Exchange) with discretionary power may allow firms without satisfying the profit and asset criteria such as ODN and/or gridComm to list on ASX (See Listing Rules 1.2, 1.3 and 9) http://www.asx.com.au/regulation/rules/asx-listing-rules.htm.

Please DYOR.