Australia's Electro Optic Systems soars on drone defence capability order

Electro Optic Systems Holdings

05/08/2025 02:06

** Shares of Electro Optic Systems Holdings EOS.AX rise as much as 37% to A$4.04, their highest level since August 30, 2021

** Stock last up 27%

** Weapons technology firm secures an A$125 million ($80.86 million) order for a drone defence capability meant to address drone swarm attacks

** Order placed by a European NATO Member State, co says, without specifying the state's name

** EOS says the order is the world's first export order of a 100-kilowatt class laser defence system

** Around 4.1 million shares change hands, compared with the 30-day trading volume of about 2.3 million

** YTD, the stock has more than tripled in value

($1 = 1.5458 Australian dollars)

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))