Australia's Synertec Corporation gains after deal with energy operator

Synertec

19/05/2026 05:20

** Shares of Synertec Corporation SOP.AX rise as much as 21.7% to A$0.03, their highest level since May 7

** Technology and engineering firm enters letter of intent (LOI) with "major Australian energy operator" for Phase 1 delivery of a significant operational technology and digital systems project

** The company did not identify the energy operator

** Under the LOI, SOP receives approval to begin agreed early works activities during the finalisation of contractual documentation for the scope of works

** About 8.5 million shares traded so far, 1.8x 30-day average

** Stock up 40% this year, including the day's move

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))