Multidisciplinary legal services firm announces ASX listing
A multidisciplinary firm, which provides legal services to the Asia-Pacific market, has revealed that it will list on the Australian Securities Exchange in early 2017.
Melbourne-headquartered financial and legal services firm, TST Partners Group Pty Ltd (TST Partners) has announced it will list on the ASX early next year by way of a reverse takeover, having entered into an agreement with Shanghai-based private equity firm Jingyi Group Co. Ltd (Jingyi Group).
Once listed, TST Partners says it plans to pursue an “expansionary agenda” in 2017, which will include the acquisition of a number of accounting and legal practices across Melbourne and other Australian capital cities.
“Currently, I believe the top-tier legal and accounting firms are over charging clients due to their enormous operating costs and a lack of competition, whilst the smaller firms may not possess the resources or technical expertise to adequately service these clients,” said TST Partners group managing director, Francis Gu.
“We plan to fill the gap in the market that exists between the top-tier and smaller firms, especially in respect to the value of its service offering to overseas clients. TST Partners will position itself to provide highly technical financial and legal services without the top-tier price tag.
“Our true multi-disciplinary service offering is also the preferred model for overseas clients, as it eliminates the need to co-ordinate across multiple service providers required to complete a single transaction.
“The proposed listing of TST Partners will also allow us to raise capital for our ambitious expansion plans.”
TST Partners services a wide range of clients from small businesses to multinational corporations based in Australia and across Asia.
The firm currently operates from two locations, Melbourne CBD and Box Hill Central professional suites. Currently the team consists of over 20 staff, including accountants, lawyers, finance brokers and corporate finance specialists.
This latest ASX listing is the first of its kind, with only IP and personal injury firms confirming on an ASX listing so far.