Australia's Austal hits record high after Hanwha wins US approval to acquire stake

Austal

10/06/2025 04:09

** Shares of shipbuilder and defense contractor Austal ASB.AX jump as much as 7.6% to record high of A$6.210

** Co says South Korea's Hanwha Group received approval from Committee on Foreign Investment in the United States (CFIUS) to bump up its stake in Austal to up to 100%

** Says Hanwha has separately applied to Australia's Foreign Investment Review Board to increase its stake in co to 19.9% from current 9.9%

** Including current session's move, ASB is up ~97% YTD

 (Reporting by Anjali  Singh)

 ((anjali.singh2@thomsonreuters.com))