Australia's Norwood Systems soars on contract with Optus

Norwood Systems

18/03/2025 24:24

** Shares of Norwood Systems NOR.AX rise 35% to A$0.027, their highest level since Jan. 3

** AI firm secures five-year contract, valued at A$2.98 mln ($1.90 mln),  with Singtel-owned SING.SI telco Optus

** Contract to replace Optus' existing voicemail system with NOR's CogVoice voicemail platform

** Stock gained as much as 75% to A$0.035 in early trade, its largest intraday pct gain since mid-August 2017

** More than 6.1 mln shares change hands, 41 times its 30-day avg volume

** Stock down ~15.2% YTD, including current session's moves

($1 = 1.5672 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com))