IPH Limited announces successful completion of Share Purchase Plan

IPH Limited (ASX:IPH) has announced the successful completion of its Share Purchase Plan (SPP) with strong support from retail shareholders. The SPP, which closed on 19 September 2024, received applications totalling over $53 million, exceeding the cap of $25 million. As a result, IPH has undertaken a scale-back of applications, with approximately 4.6 million new fully paid ordinary shares to be issued under the SPP on 26 September 2024 at an issue price of $5.46 per share.

Executive Commentary on Share Purchase Plan Results

We are pleased with the overwhelming support shown by our retail shareholders through the Share Purchase Plan. The strong demand has led to a scale-back of applications, and we appreciate the confidence and commitment demonstrated by our shareholders. The funds raised through the Placement and SPP will be instrumental in funding the cash consideration of our acquisition of Bereskin & Parr and reducing our debt. We thank our shareholders for their support and encourage them to confirm their actual holding prior to trading in the new shares.

Summary of IPH Share Purchase Plan Results

IPH Limited (ASX:IPH) has successfully completed its Share Purchase Plan, with retail shareholders demonstrating strong support through applications totalling over $53 million. The scale-back of applications will result in approximately 4.6 million new fully paid ordinary shares being issued on 26 September 2024. The funds raised will be used to finance the acquisition of Bereskin & Parr and reduce debt. The new shares are expected to commence trading on ASX on 27 September 2024. IPH expresses gratitude to its shareholders for their support and advises them to confirm their actual holding prior to trading in the new shares.