Shares of IPD Group Fall After Completing Platinum Cables Acquisition

MT Newswires Live

01/02

Shares of IPD Group (ASX:IPG) fell 1% in recent Friday trade after it said in a late Wednesday filing that it had completed the acquisition of Platinum Cables, an Australian supplier of high-performance cable products to the mining and resources sector.

The transaction was funded primarily through cash and debt under an expanded core facility with the Commonwealth Bank of Australia (ASX:CBA), per the filing.

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