Australia's Omni Bridgeway jumps on strong FY revenue, share buyback

Omni Bridgeway

30/08/2022 04:09

** Shares of Omni Bridgeway  OBL.AX  climb as much as 11% to
A$4.56, their biggest daily pct jump since Nov, 2020
    ** The litigation financing firm posts a 90% jump in its
FY22 revenue to A$30.2 mln ($20.78 mln); net loss attributable
of A$45.6 mln  urn:newsml:reuters.com:*:nFWN3051CC
    ** Also announces an on-market share buy-back programme of
up to A$50 mln 
    ** Co says it has set a commitment target of A$550 mln -
A$600 mln for FY23, and its target for increasing funds under
management for next FY to be between A$4 bln - A$4.5 bln 
    ** Stock has fallen 11.7% this year as of last close

($1 = 1.4531 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))