Nanoveu Receives $850,000 Order from Rahum Nano Tech; Shares Down 3%

MT Newswires Live

Dec 27, 2024

Technology company Nanoveu (ASX:NVU) said Rahum Nano Tech placed a $850,000 purchase order for EyeFly3D smartphone covers to meet the first-year minimum order quantity required to retain exclusivity in the Korean market, according to a Monday filing with the Australian bourse.

The initial deposit payment of $425,000 is expected in the first quarter of 2025, including $190,000 for Samsung Android and iPhone 16 models, the filing said. Shipments are expected in the first half of next year.

The company is also set to receive the final balance of $31,000 by year's end, completing the $100,000 iPhone 14/15 order placed in May, with shipment scheduled before the end of the year, according to the filing.

The company's shares fell 3% in recent Friday trade.

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