Australia's COSOL hits over 11-week high on signing asset management contract

Cosol

11/07/2023 01:56

** Shares of asset management solution provider COSOL Ltd
 COS.AX  rise as much as 3% to A$0.860 - their highest since
April 24
    ** Co signs contract to deliver end-to-end asset management
services to Papua New Guinea-based OK Tedi Mining Ltd
    ** Says contract has a value of A$17 mln ($11.37 mln) and
will run for three years
    ** Analysts at Ord Minnett say the contract is a "welcome
surprise" and de-risks outlook on future earnings with OK Tedi
representing one of co's larger clients by revenue
    ** As of last close, stock up 11.3% this year


($1 = 1.4950 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))