Australia's Toro Energy jumps after IsoEnergy deal takes effect

IsoEnergy (Pre-Reincorporation)

16/06/2026 06:23

** Shares of Australia's Toro Energy TOE.AX rise as much as 12.9% to A$0.57
** Stock currently up 8.9%, set for it's biggest one-day gain since June 3, if trend holds
** Uranium explorer says the scheme of arrangement for the acquisition of 100% of Toro by a unit of Canada's IsoEnergy has become effective
** TOE said in October that IsoEnergy will acquire all outstanding shares of Toro at an equity value of about A$75 million ($52.89 million)
** Around 989,000 shares change hands, nearly 3.1x 30-day average
** TOE up 25% YTD

($1 = 1.4180 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)
 ((Keshav.singhchundawat@thomsonreuters.com))