Call for bids on Quintessential Resources $8m raising
Foster Stockbroking and Taylor Collison are calling for bids into Quintessential Resources’ $8 million raising, which is part of a deal to buy technology group Yonder & Beyond and see the tech company backdoor listed on the ASX.
The brokers were looking to sell 40 million Quintessential Resources shares at 20¢ a share. The shares were being offered on a post one-for-20 consolidation basis.
The plan is for Yonder and Beyond to relist on the ASX in December, under the ticker YNB, with an indicative market value of $17 million and $7 million cash in the bank.
Y&B owns a portfolio of technology assets, including mobile phone application products.
The brokers were calling for bids by November 21.
Y&B is scheduled to start marketing in Australia next week before heading up to Asia.
Street Talk this morning.
QRL Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
