Australia's Electro Optic Systems rises to two-week high on drone contract, Middle East JV
19/06/2026 02:08
BUZZ-Australia's Electro Optic Systems rises to two-week high on drone contract, Middle East JV ** Shares of Australia's Electro Optic Systems EOS.AX rise as much as 20.5% to A$11.25, their biggest intraday pct gain since mid-December 2025
** Stock at its highest level since June 4
** The defense tech manufacturer secures a $124 million defence contract from Generation 5 Holding LLC (Gen5), a United Arab Emirates-owned provider of defence equipment
** Order for its Slinger Counter-Drone Remote Weapon system
** Also enters joint venture agreement with Gen5 for development, manufacturing and global distribution of EOS' High Energy Laser Weapon (HELW), among others
** Stock has risen 14.9% this year, including session moves
(Reporting by Roshan Thomas in Bengaluru)
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