Maritime surveillance company lists on stock exchange

Key points

• Overwatch Technologies, an Australian defence company using AI surveillance to track oceans for military and criminal threats, has listed on the Australian Securities Exchange.
• The company develops intelligence and surveillance systems using autonomous technology and data analytics to help monitor the seas.
• Its initial public offering raised $8 million at 20 cents per share, with shares trading at 17 cents early Friday afternoon, giving it a market capitalisation of $25.5 million.