IPH Ltd. (AU:IPH) has released an update.
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IPH Ltd. has announced the successful completion of its Share Purchase Plan (SPP), which raised over $53 million from retail shareholders, surpassing the targeted $25 million cap. Due to the oversubscription, a pro-rata scale-back was conducted, with the new shares to be issued at $5.46 each. These funds will support the acquisition of Bereskin & Parr and reduce company debt, with the new shares set to begin trading on the ASX on September 27, 2024.
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