The take up rate of the offer ('REO') at 66 per cent was...

The take up rate of the offer ('REO') at 66 per cent was high.

Including the ability for SH to top-up, the total received of A$8.1 million was a small $A$400,000 above what the retail entitlement offer sought to raise.

If this company was identical to Steadfast Insurance, it would have had a Share Purchase Plan with all over subscriptions accepted.

Instead, we will be (somewhat - perhaps minimally) scaled back. Already, if I'm not mistaken, due to the placement, retail SH have been diluted.

Like REH, SDF wins the gold medal for looking after small retail SH as both companies structure their SPPs to be fair to all concerned.

IPG's REO wasn't quite as good on that important measure.

That said, it's very pleasing that the acquisition has been well accepted by often grumpy 'Mr Market', and even better that it's expected to benefit IPG from day one.

Bell Potter has put out a positive brief report on IPG as one of its top stock picks for 2024. But DYOR is generally preferable to following brokers.