Australia's Vection Technologies rises on pilot order from major defence contractor

Vection Technologies

02/03/2023 24:34

** Shares of Vection Technologies Ltd  VR1.AX  rise as much
as 18% to A$0.059 - set for best day since Jan 30, if current
gains hold 
    ** Digital services provider receives initial pilot order of
about A$1 mln ($675,600.00) from a major defence contractor 
    ** Says initial pilot order forms part of a larger tender of
up to A$30 mln 
    ** Shares hit their highest since Feb 9
    ** About 2.7 mln shares change hands, compared with the
30-day average trading volume of 1.2 mln shares 
    ** Shares down 9.1% YTD, as of last close 

($1 = 1.4802 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))