Tuas (ASX: TUA) share price surges 5% in acquisition news

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Share with Tuath Co., Ltd. (ASX: TUA) Following the company announcement, we jumped from the open. Tuath’s share price is currently up 5.81% to $ 1.64.

Tuath is catching bids today After announcing its subsidiary TPG Singapore An additional 5G network spectrum has been awarded by the Singaporean authorities.

Why is Tuath’s stock price so high?

Tuas announced at a recent “quantity stage” of the 2.1 GHz spectrum auction conducted by Singapore authorities that TPG Singapore was tentatively awarded a 10 MHz spectrum in the 2.1 GHz band at a price of $ 31.72 million.

The total spectrum is awarded in two pair lots of 5MHz. For each release, the auction allocation phase has not yet occurred. This determines the location of the lot within the spectral band.

In addition, the license period for the 2.1GHz spectrum is 15 years. The provider needs a license to use the standalone 5G network. TPG Singapore “is intended to act swiftly to initiate the deployment of 5G equipment to take advantage of this spectrum.”

Tuath is a 100% owner of TPG Singapore. It was after the latter was spun off from TGG Telecom Ltd when it merged with Vodafone Hutchison Australia.

The announcement was made as Tuas’ share price rose 90% over the past three months. It reached a 52-week high before it blew off the bubbles and settled at the current price.

This upward swing has constructive experts on Tuas.For example, Wilson Asset Management Portfolio Manager Tobias Yao was quoted as recently said, “The reason I like TPG Singapore is the fact that we find value proposition to be very attractive.”

Yao added that Wilson Asset Management expects Tuas to gain market share in Singapore and expand to other parts of Southeast Asia.

Regarding today’s announcement, TPG Singapore CEO Richard Tan said:

We are pleased to have secured this important 5G bandwidth, which is well supported by the global device ecosystem. When embarking on a network upgrade that will begin in the first half of 2022, customers can expect very competitively priced 5G services.

Tuath stock price snapshot

Over the last 12 months, Tuas’ share price has risen 140%. It has recovered 118% since the beginning of the year.

Last month, Tuas’ share price rose 12%, starting a good week.

Tuas shareholders S & P / ASX200 Index (ASX: XJO) Approximately 10% return over the past year.

Tuas (ASX: TUA) share price surges 5% in acquisition news

Source link Tuas (ASX: TUA) share price surges 5% in acquisition news

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