Australia's Otto Energy jumps on capital return and share consolidation plans
28/09/2026 05:57
BUZZ-Australia's Otto Energy jumps on capital return and share consolidation plans ** Shares of Australia's Otto Energy OEL.AX rise as much as 14.3% to A$0.008, marking their highest level since September 16
**Shares post biggest intraday pct gain since Sept 10
** Oil and gas explorer plans to return about A$20 million ($14.05 million) to shareholders, equivalent to A$0.417 per share on a post-consolidation basis
** Co also proposes 100-for-1 share consolidation, subject to shareholder approval
** Stock up about 50% YTD
($1 = 1.4239 Australian dollars)
(Reporting by Swetha Lakshmi in Bengaluru)
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