Australia's Delorean Corp climbs as unit wins construction contract

Iceco

24/11/2021 24:48

** Shares of Delorean Corp Ltd  DEL.AX  rise as much as
12.2% to A%0.230, their biggest intraday pct gain since Oct 28
    ** The bioenergy firm says its engineering unit has been
awarded Yarra Valley Water's waste-to-energy project in Victoria
  urn:newsml:reuters.com:*:nASX6Nv9ZC
    ** Yarra Valley Water is the largest of three Victorian
government-owned retail water corporations
    ** The two-year contract has a total design and construction
contract sum of about A$40 mln – A$50 mln ($28.89 mln - $36.11
mln)
    ** Stock at its highest since Oct 29
    ** About 667,393 shares change hands, thrice the 30-day avg
volume of 207,951
    ** Stock down 51.2% since its IPO debut on April 12

     ($1 = 1.3847 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))