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Avarga says it is exploring a listing of its paper manufacturing business

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AVARGA on Monday said it is exploring opportunities relating to its paper manufacturing business, which include the expansion and/or potential listing of said business. Read more at The Business Times.

It is also considering a possible transaction which will allow it to monetise its investment in its power plant located in Yangon, Myanmar, it said in the same update. That being said, the terms of the possible transaction are still not finalised and are under consideration.

The company added that its subsidiary - Taiga Building Products - reported strong earnings growth for the period ended June 30, 2020. Avarga has noted that companies in the building materials industry in North America have generally performed strongly in the stock market, given recent strong demand in housing and home renovation projects.BT is now on Telegram!

 

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Singapore stocks open higher on Monday; STI up 0.1%SINGAPORE shares edged up on Monday amid mixed performance among index stocks and bank counters. Read more at The Business Times.
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