Australia's Electro Optic Systems falls on halting work on satellite hub

Electro Optic Systems Holdings

09/08/2023 06:10

** Shares of Electro Optic Systems Holdings  EOS.AX  fall as
much as 9.1% to A$1.00, their lowest level since July 26
    ** Defense and space systems manufacturing co says it has
stopped work on proposed Australian satellite manufacturing hub
    ** Says following defence strategic review by federal govt,
planned initial project, called National Space Mission for Earth
Observation, will not proceed
    ** Stock has risen 126.8% this year, as of last close

    
($1 = 1.5291 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))