Australia's IPD Group at 10-month high on Platinum Cables acquisition

IPD

29/12/2025 23:31

** Shares of IPD Group IPG.AX rise as much as 4.8% to A$4.40, their highest level since February 27

** Set for best session in over a month

** Automation and electrical equipment distributor acquires Platinum Cables for A$37.5 million ($25.09 million), others

** Co to fund acquisition primarily from cash and debt through expanded core debt facility, with a new A$10 million working capital facility also agreed

** Stock is up 13.2% YTD, including the session's moves

($1 = 1.4948 Australian dollars)

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com))