Australia's Sprintex hits near 3-week high on supply deal with China-based firm

Sprintex

25/10/2021 03:17

** Shares of technical solutions provider Sprintex  SIX.AX 
rise as much as 9.3% to A$0.082, their highest since Oct 5 
    ** Says it has entered a strategic procurement and
cooperation agreement with China-based Nanjiang RGE Membran Tech
 urn:newsml:reuters.com:*:nASX2XYh03
    ** Under the 3-year agreement, co to develop and supply
stand-alone air supply systems used in the water treatment
industry in China
    ** Says the minimum order value under the agreement is 30
million yuan ($191.52 million) for the first two years 
    ** Stock marks biggest intraday gain since Oct 5 
    ** Stock down ~21.1% this year as of last close 


($1 = 0.1566 Chinese yuan renminbi)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))