Samsung E&A jumped more than 12% in early trading on the 1st. Investor sentiment appears to be strengthening after news broke that the company won a water treatment project worth more than 380 billion won in the Middle East.
As of 9:43 a.m. on the stock market, Samsung E&A was trading at 53,500 won, up 5,900 won (12.39%) from the previous session.
Samsung E&A said in a filing that it won a construction order worth 380.83897 billion won. However, it said the counterparty, contract period, and terms will be disclosed later at the project owner's request for confidentiality.
Samsung E&A said it secured projects totaling $790 million, including about $540 million in contracts through overseas subsidiaries in the Middle East.
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