** Shares of X2M Connect X2M.AX rise as much as 27.8% to A$0.023, their highest levels since March 5

** The internet-of-things co wins four new contracts in South Korea valued at A$1.7 million ($1.07 million)

** New orders received for water digitisation of 13,625 households in South Korea, says co

** About 628,200 shares change hands, three times the 30-day average volume of shares

** Stock down 40% this year, as of last close

($1 = 1.5959 Australian dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com;))