BUZZ-Australia's IPD Group at 10-month high on Platinum Cables acquisition
Reuters
Dec 30, 2025
BUZZ-Australia's IPD Group at 10-month high on Platinum Cables acquisition
** 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))
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