Australia's Austal surges as U.S. Coast Guard exercises option under $3.3 billion contract

Austal

04/09/2025 05:17

** Shares of Austal ASB.AX rise as much as 4.6% to A$8.05, highest since Aug 29

** Stock posts biggest pct gain since Aug 29

** Global shipbuilder says that the U.S. Coast Guard exercised options worth $314 mln with its U.S. arm

** Options under original OPC contract awarded to Austal in June 2022, with a potential value of $3.3 bln

** ASB last up 3.6%, bringing YTD gains to 157.4%

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.SinghChundawat@thomsonreuters.com;))