Qube: the rights issue

One of our favourite growth stocks makes its biggest move so far.

Summary: While subject to a number of conditions, including shareholder approval, Qube is one step closer to a sale agreement on the Asciano acquisition, which will give the company management of the Patrick ports business. As part of the deal’s funding, an entitlement offer has been announced and we see this as a good opportunity for long term value.

Key take out: We maintain our buy recommendation and view the entitlement offer as an attractive long term opportunity.

Key beneficiaries: General investors. Category: Shares.

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