Buying sprees and backdoor listings

Amid the wildfire decimating market gains are the quiet but bold buying and backdoor listing activities that may lend to interesting stock plays in the not so distant future.

The most recent of these financial transactions, which are labelled broadly under mergers and acquisitions (M&A) activities, is the purchase by Davao-based businessman Dennis Uy (through his Udenna Corp.) of 70 percent stake in Conti’s Holdings Corp. (CHC), the owner and operator of Conti’s Bakeshop and Restaurant chain.