KOSDAQ-listed Sphere shares were strong early on the 20th. Buying is seen flocking in on news that it signed a large supply contract worth 43 billion won with a U.S. aerospace company.
As of 9:57 a.m. that day, Sphere was trading at 47,700 won, up 3,600 won (8.16%) from the previous session. It rose to as high as 54,000 won intraday, marking a 1-year high.
Sphere said in a filing after the regular session closed the previous day that it signed two special alloy supply contracts worth 41.6 billion won and 1.7 billion won with a U.S. aerospace launch company. The contract periods run until Apr. 24 and Jan. 11 next year, respectively.
The size of the contracts amounts to 1,694% compared with Sphere's recent sales.
Sphere noted, "The end date of the contract period is a planned end date taking into account the expected payment schedule after delivery, and if the schedule changes later, we will correct and disclose it."