Shares of Toronto-listed POET Technologies (OTC:POETF) Inc. experienced a significant rise on Friday, peaking at a 32% increase.

This surge brought the shares to their highest level since March 2022. The rise in stock value follows the company's announcement earlier this week of a manufacturing agreement with Globetronics Manufacturing in Malaysia.

In the agreement, POET Technologies stated that it has engaged Globetronics to assemble and test optical engines.