For commercial satellite SigInt startup Kleos, a rough 1st week after IPO

by Peter B. de Selding

PARIS — Commercial electronics-intelligence satellite startup Kleos Space’s initial public offering on the Australian Stock Exchange succeeded in securing sufficient cash to fund planned operations for the coming 12 months but showed that stock markets don’t respect honeymoons.

The Aug. 24 raised the targeted 11 million Australian dollars ($8 million), selling 55 million shares — CHESS Depository Instruments — at 20 Australian cents apiece.

By Aug. 31, the shares had fallen 30%, to 14 Australian cents.

In an Aug. 31 statement, Kleos, which is headquartered . . .

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