The S&P/ASX 200 Index (ASX: XJO) is on course to end the week in the red. In afternoon trade, the benchmark index is down 0.3% to 8,500.9 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Betr Entertainment Ltd (ASX: BBT)
The Betr share price is up 3.5% to 29.5 cents. This follows news that the sports betting company is not giving up on its takeover approach for Pointsbet Holdings Ltd (ASX: PBH). Betr revealed that it plans to make an off-market, all-scrip takeover offer for all shares in PointsBet not already held. The offer will be 3.81 Betr shares for every 1 PointsBet share on issue. Betr's chair, Matt Tripp, commented: "This is a compelling opportunity to consolidate value in the Australian wagering sector. Our offer provides PointsBet shareholders with flexibility—either cash for immediate liquidity or the ability to participate in the long-term upside of the combined entity. We're offering real value, execution certainty, and the leadership experience needed to deliver."
Centuria Capital Group (ASX: CNI)
The Centuria Capital share price is up almost 2% to $1.74. This morning, analysts at UBS took their sell rating off this property company's shares and have upgraded them to a neutral rating with an improved price target of $1.81. UBS is feeling positive about the property sector due to falling interest rates and rising rents.
GR Engineering Services Ltd (ASX: GNG)
The GR Engineering Services share price is up almost 6% to $3.25. This morning, this engineering services company announced a new contract win. It has been awarded an engineering, procurement and construction (EPC) contract by AIC Mines Ltd (ASX: AIM) for the expansion of the existing Eloise copper processing facility in northern Queensland. Managing director, Tony Patrizi, said: "GR Engineering is pleased to have been selected by AIC Mines for the delivery of the Eloise Copper Expansion Project. GR Engineering has a strong track record of successful project delivery in Australia in the base and precious metals sector, including in northern Queensland. We look forward to working with the AIC Mines team on the Project as it expands its existing processing facility."
Mach7 Technologies Ltd (ASX: M7T)
The Mach7 share price is up 3% to 34 cents. This follows news that it has signed a five-year licence agreement amendment for a total contract value (TCV) of A$5 million. The medical technology company has signed the contract with a longstanding key customer, which is an unnamed large US-based radiology marketplace. Mach7 CEO Mike Lampron said: "The agreement highlights our focus on building lasting relationships with our customers and the importance of our 'land and expand' strategy. It also demonstrates the strength of our value proposition and the significant ROI that our diverse product offering delivers to our customers."
