Australia's Electro Optic Systems surge on defence contract

Electro Optic Systems Holdings

06/10/2025 02:06

** Shares of Australia's Electro Optic Systems  EOS.AX rise as much as 17.5% to A$10.280, its biggest intraday pct gain since August 5

** Stock currently up 2.1%, as of 0057 GMT

** Defence and space tech firm secures contract for delivery of Remote Weapon System for Australian Defence Force LAND 400-3 project

** Contract valued at A$108 million  ($71.23 million)

** LAND 400 Phase 3 project is a major Australian Defence Force initiative aimed at modernizing its fleet of Infantry Fighting Vehicles

** Around 5.5 mln shares change hands, 1.4x the 30-day average volume

** Stock has risen 593.8% this year, including sessions' gains

($1 = 1.5163 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com;))