The IPH Ltd (ASX: IPH) share price is missing out on the market selloff today.
Thatâs because the ASX 200 intellectual property (IP) services companyâs shares were slammed into a trading halt this morning.
However, judging by its trading halt request, its shares may well take a tumble when they return to trading on the ASX boards on Wednesday.
Why is this ASX 200 share in a trading halt?
IPH requested a trading halt on Tuesday after it became the latest victim of a cybersecurity incident.
This follows incidents in recent months impacting Costa Group Holdings Ltd (ASX: CGC), Medibank Private Ltd (ASX: MPL), Optus, and TPG Telecom Ltd (ASX: TPG).
Not much is known about the cyber-attack at present, with IPH holding its cards close to its chest. Its request only states:
IPH requests the trading halt to enable it to manage its continuous disclosure obligations in relation to a cyber incident that IPH has recently become aware of; (b) IPH requests that the trading halt continue until the earlier of a release of an announcement by IPH and the commencement of normal trading on Wednesday, 15 March 2023.
Investors will have to be patient and wait for that announcement tomorrow to see what damage has been done from the attack.
In light of the above, it is no wonder that the Betashares Global Cybersecurity ETF (ASX: HACK) share price is up over 6% this year. This compares favourably to the performance of the ASX 200 index, which is down almost 1% in 2023.
The post Another ASX 200 company has been hit with a cyber incident. Here’s what we know appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended BetaShares Global Cybersecurity ETF. The Motley Fool Australia has positions in and has recommended BetaShares Global Cybersecurity ETF. The Motley Fool Australia has recommended Costa Group, IPH, and Tpg Telecom. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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