D24 - just from the AFR
Qube eyes acquisitions during COVID-19Qube Holdings is planning to use an upcoming equity raising to make bolt-on acquisitions of smaller logistics companies that are struggling through COVID-19.
Analysts have been optimistic on Qube's outlook, with Goldman Sachs analysts arguing that while the group is exposed to falling numbers of containers imported and exported through Patrick ports, it has continued to generate positive earnings and cashflow.Total container movements across Australia’s four biggest ports slid 8.6 per cent in February, with imports tumbling 11 per cent – almost twice as much as exports, according to Citigroup. Analysts have warned that further weakness in container movements is likely.
Goes onto say some of the directors taking a paycut.
I think if Patrick ad DB World will suffer too - no mention of what the discount will be or what the pro-rata - I have a bad memories of I think Asciano doing a 1:1 offer!
(20min delay)