On 5th October, UPP acquired of 58.3% of Canadian-listed Taiga Building Products for C$18.9mn. Taiga Building Products is the largest independent wholesale distributor of building products in Canada. Taiga maintains substantial inventories of building products at fifteen strategically located distribution centres throughout Canada and two distribution centres in California. It also operates three wood preservation plants that produce pressure-treated wood products. UPP also announce the issue of 1 warrant for every 1 existing ordinary share with an exercise price of SGD0.37.
With Taiga onboard, UPP is changing its business model, investors are clearly optimistic about the latest acquisition pushing the share price up 35% after the announcement. The price action is showing bullish momentum not seen since 2012. With Mr Ting Kooi Tong anf Peter Lim as its main stakeholder this blog believe we are at the early stage of a bull run and there is more excitement ahead.
With Taiga onboard, UPP is changing its business model, investors are clearly optimistic about the latest acquisition pushing the share price up 35% after the announcement. The price action is showing bullish momentum not seen since 2012. With Mr Ting Kooi Tong anf Peter Lim as its main stakeholder this blog believe we are at the early stage of a bull run and there is more excitement ahead.
All posts and charts are for educational and illustration purposes only
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