t42 IoT Tracking Solutions PLC (AIM:TRAC) saw its shares rally over 9.5% higher in early trade on Tuesday after the supplier of tracking solutions for global shipping containers said it has won an initial contract from an international company.
The order for t42’s Tetis units is worth US$0.24mln and will be delivered in the third quarter of this year, the company said in a statement.
"This order follows in the footsteps of an increase in orders generally in the past couple of months and reinforces our commitment to making significant contributions to the global shipping container markets,” commented Avi Hartmann, CEO of t42.
At 8.45am, t42 shares were 0.50p higher at 5.75p.