Highlights:
IPD Group Limited (“IPD”) to acquire CMI Operations Pty Ltd (“CMI”), a leading distributor of electrical cables and manufacturer and distributor of plug brands in Australia, from ASX listed Excelsior Capital Limited (“Excelsior”)
CMI is a strategically compelling acquisition in highly complementary sectors that extends IPD’s product suite, increases supplier diversity, strengthens its overall value proposition with existing customers and broadens customer reach
The acquisition results in pro forma FY23A EPS accretion of over 30% (excluding synergies)1
Acquisition to be funded with a combination of new debt facilities and a $65 million equity raising (“Equity Raising”) comprising of a $40 million institutional placement and a $25 million accelerated non-renounceable entitlement offer (“ANREO”)
IPD also provides a H1 FY24 EBIT guidance of between $13.5-14.0 million
Ann: Trading Halt, page-8
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Last
$4.71 |
Change
-0.010(0.21%) |
Mkt cap ! $488.3M | |||
| Open | High | Low | Value | Volume |
| $4.77 | $4.77 | $4.66 | $436.4K | 92.42K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 526 | $4.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.75 | 550 | 2 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| IPG (ASX) Chart |