Last month we reported that JYG Australia Ltd was becoming a listed company on the ASX. 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. The first “TST” entity (TST Accountancy Pty Ltd) was established in 1988.
The company was going to raise $3.4m as part of the IPO and make a number of acquisitions including Rose Lawyers and Conveyancers, located in Melbourne’s Forest Hill.
The ASX listing has been formally withdrawn.
The only reason publicly given for the withdrawal stated: “The Company advises that the Directors have resolved to withdraw the Offer as set out in the Replacement Prospectus due to uncertainty surrounding its major shareholder, Jingyi Group.”
We have sought further comment from TST Partners.
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