Australia's DUG Technology rises to over 9-month high after contract with PETRONAS

DUG Technology

02/09/2025 01:28

** Shares of DUG Technology DUG.AX rise 24.7% to A$1.97, heading for their best session, if gains hold

** The technology company hits its highest level since October 21, 2024

** Co signs a Software-as-a-Service (SaaS) and High Performance Computing as-a-Service (HPCaaS) letter of award with PETRONAS Digital, a unit of Malaysian national energy company Petroliam Nasional (PETRONAS)

** Under deal, co will provide dedicated compute and storage capacity and full insight processing and imaging toolkit to PETRONAS Digital

** Says minimum total contract value is $23.8 million

** Stock up ~40% this year, including the day's move

 (Reporting by John Biju in Bengaluru)

 ((John.Biju@thomsonreuters.com;))