Insights

Qube (ASX:QUB) share price inches higher after Moorebank update

The Qube share price has opened higher this morning after the company announced that sale negotiations for a major asset are going well.
The post Qube (ASX:QUB) share price inches higher after Moorebank update appeared first on The Motley Fool Australia. –

Man in white business shirt touches screen with happy smile symbol IGO share price upgrade

The Qube Holdings Ltd (ASX: QUB) share price is inching higher at market open, after the company announced an update on the much anticipated sale of its Moorebank Logistics Park (MLP) project.

The Qube share price opened at $3.00, up by 0.33%.

What was the update

In a short release to the market, the logistics company advised that its negotiation with Logos Property Group is progressing constructively with the due diligence process substantially complete.

The company says significant progress was made on agreeing the key commercial issues for the 100% sale of its warehousing assets to Logos, while still retaining interest in the terminals assets.

The company says that Logos continues to “demonstrate a clear appreciation of the high quality and significant strategic value of the MLP.”

Qube says that both companies will continue to finalise the outstanding commercial issues in the near term, but has warned that there is no certainty that a transaction will occur.

What’s the Moorebank Logistics Park

MLB is Australia’s largest freight infrastructure project, and will link Port Botany direct to rail terminals and warehousing. It sits on a 243-hectare site just 35km from Sydney’s central business district.

The sale of this project has been on the cards since August, and a price tag of $2 billion has been mentioned.

This comes as Qube faces problems on its balance sheet, after reporting a 55% fall in annual profit to $87.5 million. Analysts have said that if Qube can’t offload Moorebank, it will be forced to recapitalise.

In September, Logos emerged as a contender to buy the asset, and the companies agreed at the time to enter into an exclusive negotiation period.

About the Qube share price

Qube is Australia’s largest provider of import and export logistics services. The Aussie company operates at more than 125 locations across Australia, New Zealand, Papua New Guinea and South East Asia.

The coronavirus pandemic has disrupted international commerce and logistics routes this year. The Qube share price is lower by 8% lower in 2020, after plummeting by 50% in May.

At today’s share price, Qube commands a market cap of $5.7 billion.

EARLY ACCESS – Our Boxing Day Sale – Save over 60% off Motley Fool Share Advisor

Right now we’re offering EARLY ACCESS to our Boxing Day sale. We’re giving you the chance to join Scott Phillips within our signature stock picking service, Motley Fool Share Advisor, for as little as $149 for a whole year’s membership.

And now is a perfect time to join during this Boxing Day Sale and collect a whopping 60% off

Join Share Advisor in our Boxing Day Deal!

More reading

Motley Fool contributor Eddy Sunarto has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Qube (ASX:QUB) share price inches higher after Moorebank update appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!