In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small gain. At the time of writing, the benchmark index is up 0.2% to 7,375.6 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are surging higher:
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Mydeal.Com Au Ltd (ASX: MYD)
The MyDeal share price has jumped over 10% to 81.5 cents. Investors have been fighting to get hold of the ecommerce company's shares after it delivered a very strong first quarter update. MyDeal reported record quarterly gross sales of $68.5 million, up 49% quarter-on-quarter and 22.6% year on year. Key drivers of this growth were a 38.8% increase in active customers to 929,461 and high levels of returning customers.
Senex Energy Ltd (ASX: SXY)
The Senex share price is up 15% to $4.38. This morning the energy company revealed that Korean giant POSCO has tabled a $4.40 per share takeover approach. Due diligence has been granted to provide POSCO with additional time to assess a further revised proposal at a price higher than $4.40 per share.
Superloop Ltd (ASX: SLC)
The Superloop share price has rocketed 20% higher to $1.16. This follows news that the telco is selling its Hong Kong operations, as well as select Singapore assets for $140 million. According to the release, Superloop has entered a binding agreement with funds affiliated with Columbia Capital and DigitalBridge Investment Management. The release notes that the sale price is a 30% premium above the assets' current carrying value.
Vulcan Energy Resources Ltd (ASX: VUL)
The Vulcan Energy share price has jumped 10% to $12.72. Investors have been buying the lithium developer's shares after it announced a new binding offtake agreement. According to the release, Vulcan has signed a binding lithium hydroxide offtake agreement with Umicore. It is a leader in cathode materials production used in lithium-ion batteries for electrified transportation. The deal is for five years from 2025 and for a total of 28,000 tonnes to 42,000 tonnes of battery grade lithium hydroxide.
