Australia's Nanoveu hits near 1-year high on distribution deal in Philippines

Nanoveu

13/04/2023 02:16

** Shares of Australia's Nanoveu Ltd  NVU.AX  rise as much
as 11.5% to A$0.029, highest since April 2022
    ** Stock on track for best day since March 29, if current
gains hold
    ** Nanotechnology co says marketing and distribution
agreement signed with energy contractor One Renewable Energy
Enterprise Inc for the Philippines
    ** Says agreement is for an initial term of 3 years, with a
sales target of $0.75 mln in the first 12 months and $13 mln in
the first 24 months
    ** More than 930,000 shares change hands, compared with the
30-day average volume of about 234,000 shares
    ** Stock had nearly tripled in value this year, as of last
close

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))