Financial Wire

NRW Unit Wins Five Contracts Worth AU$160 Million

-- NRW's (ASX:NWH) Fredon subsidiary secured five electrical and mechanical contracts with a combined value of about AU$160 million, according to a Friday filing with the Australian bourse.

The contracts include an electrical package of works on an Australian government infrastructure project worth about AU$110 million, an electrical services contract for the Festival Tower project worth AU$23 million, and a design-and-construct package for electric bus charging infrastructure at a South Australia bus depot worth AU$5 million, the filing said.

An 80%-owned joint venture by Fredon also secured a AU$24 million mechanical contract for the Mt Barker Hospital project in South Australia.

Additionally, Fredon won a contract for the design, supply, installation, testing, commissioning, and coordination of all electrical systems related to charging infrastructure installation at the Oakleigh bus depot in Victoria, per the filing.

NRW shares rose 2% in morning trade on Friday.

Related Articles

Asia

West African Resources Shares Placed in Trading Halt Pending Announcement on Potential Acquisition of Additional Stake in Unit

West African Resources' (ASX:WAF) securities were placed in a trading halt on Friday after the company said an announcement is being prepared regarding a decree by the Burkina Faso government in relation to its potential acquisition of an additional 25% stake in the share capital of the company's Kiaka unit, according to a same-day Australian bourse filing.Kiaka is the owner of the recently constructed Kiaka gold project.The company requested that the trading halt remain in place until the release of the announcement or the commencement of normal trading on April 20, whichever comes first.

$ASX:WAF
Asia

Long Investment to Invest in Two Nasdaq-listed Firms

Long Investment (HKG:2312) agreed to make two separate minority investments in Nasdaq-listed firms Metalpha Technology and NIP Group, according to a Hong Kong bourse filing Friday.The firm will acquire 1.74 million Metalpha shares from Qomolangma Capital and 4.6 million class A NIP shares from Nebula Digital Investment in exchange for 22.7 million shares and 17.9 million shares of the company, priced at HK$0.728 each, respectively.The 40.6 million shares to be issued in aggregate represent 8.89% of the company's enlarged share capital.The firm said it is acquiring the shares for investment purposes.The company's acquisition represents minority investments of less than 5% in the two companies, Long Investment said.

$HKG:2312
Asia

Insignia Financial's Acquisition By CC Capital, Affiliates Becomes Legally Effective

Insignia Financial (ASX:IFL) said that the scheme of arrangement for its acquisition by Daintree BidCo, an entity established by CC Capital Partners and its affiliates, became legally effective, according to a Friday Australian bourse filing.It confirmed that it had lodged an office copy of the orders made by the Federal Court of Australia approving the proposed acquisition with the Australian Securities and Investments Commission.The quotation of Insignia Financial shares on the Australian bourse is expected to be suspended from the close of trading on Friday. The scheme is expected to be implemented on April 28.

$ASX:IFL