Gilat Satellite Networks Ltd. (GILT) rose to the highest level in more than a month after the developer of satellite-networking technology said it won a contract from a mobile network operator in Southeast Asia.
Shares of the Petah Tikva, Israel-based rose 2.9 percent to 15.84 shekels, the highest intraday level since March 19, at 2:44 p.m. in Tel Aviv.
Gilat will provide the operator with equipment, including hub installation, and supervise a site upgrade and deployment in over 100 sites as part of the operator’s expansion program, Gilat said in a Globe Newswire statement today.
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