Reverse Takeovers (RTOs) are super-common in Australia. A lot of broken mining companies whose exploration came up blank wind up sitting around still with a symbol on the ASX. This is used as an easy way to list - although the prognosis is not normally good (i.e. anyone evading the scrutiny of a listing starts a bit behind the 8-ball). Given how expensive and complex listing is, it's not the worst thing in the world.