QST announces 'Sales of Shares in a wholly owned subsidiary' which could be good for MCH.
I thought QST was a subsidiary of MCH, or partly owned since QST is also listed on the ASX, but QST has $12m market cap and MCH has $4m market cap? Weird.
You can see I'm pretty ignorant about my holding in MCH, but does anybody know if their holding of QST is significant and if this news sounds good for MCH? 'QST, our 59.97% subsidiary' from 2016 annual report.
It sounded like 10% cash and 90% shares for the sale of Quest Stockbrokers, a subsidiary of Quest, which is in turn a subsidiary of MCH.
I guess it's worth about $3m, if I didn't misunderstand, which is around $1.8m worth for MCH's 59.97% of Quest, but mainly in Tiger Synergy shares held under Quest.
Complicated.
MCH Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held
