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Hot stock: Addvalue launches relay terminal on satellite, stock surges
ADDVALUE Technologies has successfully launched its data relay terminal into low-earth orbit on the VELOX-II satellite, paving the way for the mobile satellite terminal supplier to begin testing its planned Inter-Satellite Data Relay system.
The company's shares responded on Thursday by climbing 20.5 per cent, or 0.8 Singapore cent, to trade at 4.7 Singapore cents as at 9.24am. About 18.5 million shares had changed hands by then, making it the most active stock on the Singapore Exchange by volume.
The relay terminal is aimed at providing access to low-earth orbit satellites when those satellites are not within sight of an earth station.
Addvalue is relying on the newly launched terminal to demonstrate the feasibility of its relay system and the new satellite link. Evaluation of the system will begin once the satellite platform is declared operational, Addvalue said.