Read update at this link about withdrawal of listing.
JYG Australia Ltd [ASX:JYG] is becoming a listed company on the ASX.
Keystone Law among a number of IPOs to hit AIM next week
It is the holding company of TST Partners Group (TST).
TST is a multidisciplinary financial services firm which provides accounting, legal and corporate services based in Melbourne, Australia. The first “TST” entity (TST Accountancy Pty Ltd) was established in 1988.
The company is raising $3.4m as part of its IPO.
The listing is being combined with a number of acquisitions including Rose Lawyers and Conveyancers, located in Melbourne’s Forest Hill.
Prior to the listing and its associated acquisitions, TST was comprised of 30 professionals.
In FY 2017 the firm generated revenue of $5.5m. Post-listing, based on the IPO share price of 20 cents the company will have a market capitalisation of almost $17m.
The firm describes itself: “Our accounting, law and finance firms provides personalised accounting, taxation, legal, and finance brokering services to individual, small business and corporate clients based in Melbourne and inter-state, whilst our corporate advisory firm TST Capital specialise in advising Asian corporations and significant investors to undertake investments and/or expand business operations in Australia.”
The prospectus-scheduled date for its shares to be quoted on the ASX was 20 February 2018.
The actual date is yet to be announced by the ASX.
At the time of the Prospectus launch, Francis Gu, Managing Director and Chief Executive Officer of JYG, said:
“We are very pleased to be in the process of transitioning into a listed company, and will work with enthusiasm and dedication in order to reach this key company milestone.
“We are seeking an ASX listing to provide JYG with further funding to improve and expand the existing operations.
The Company plans to launch an asset management business upon TST Asset Management obtaining an Australian Financial Services Licence to focus on raising capital for the Company’s planned investment funds.
“JYG’s capital raising and ASX listing will also provide funding to pursue the Company’s commercial objective of expanding the business through acquisitions in other Australian capital cities to drive growth and enhance the Company’s multidisciplinary service offering.”
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