Boral Ltd (OTCPink: BOALF) closed at $5.0000 on Thursday, up 119.30 percent, and is trading at a range between $5.00 and $5.50. At a monthly average volume of 4.93K shares, Boral stock has spiked over 7.53% in the past 30 days. Recent tender offers of its subsidiary helped BOALF stock rise.

The offer was for what?

As an international building products and construction materials group founded in 1946, Boral operates two divisions: an integrated construction materials business in Australia, and a fly ash and building products business in North America. Globally, BOALF employs more than 17,000 employees and contractors across 650 operating and distribution facilities.

Earlier in May 2021, Boral Finance Pty Ltd, a wholly-owned subsidiary of Boral Limited, announced it had started a tender opportunity to buy any and all of its outstanding 3.000% Guaranteed Senior Notes due 2022 for cash.

As part of the Tender Offer, Boral provided a detailed description of what the Tender Offer is, as well as a notice of guaranteed delivery. The Offer to Purchase was dated May 17, 2021.

BOALF announced last week that the deadline for submitting bids for the Tender Offer was 5:00 pm, May 21st, 2021.

Financial aspects of the offering:

D.F. King & Co. Inc was the tender and information agent for the Tender Offer. As of the expiration of the tender offer, $323,063,000 in aggregate principal amount of the Notes were validly tendered and not validly withdrawn, reported the agent. The offer to purchase Boral (BOALF)’s Notes included US$100,000 principal amount of notes that have been tendered in accordance with the BOALF’s guaranteed delivery provision.