The beginning of June has been nothing but kind to shares of iSelect Ltd [ASX:ISU]. This morning the stock experienced a huge growth of 29.60%.
Earlier today, iSelect revealed that IHA group (who is associated with BHL Holdings, iSelects rival) had acquired a 12.2% interest in the company over the course of six weeks.
The accelerated rate of buying indicates that iSelect may be up for a complete takeover.
Currently, iSelect has a market cap valued at $176.426 million.
Brand campaign contributes to iSelect growth
Although the brand’s potential takeover does pose as a clear contribution to iSelect’s increase of shares, other factors played a strong part in its share increase.
Back in April, iSelect kicked off a new campaign called ‘all over it’, which is focused on iSelect being the solution to life’s admin challenges.
On its media release, ASX stated:
‘iSelect has been working towards becoming Australia’s Life Admin Partner for some time now, but this is the first time they’re communicating this proposition to consumers – so we had to get this right. We’re proud to have created a campaign that focuses on everyday moments and life challenges to remind Australians that there are better things to be doing with their time than boring life admin tasks.’
iSelect has gone through many steps to ensure its shares rise in a sufficient manner. This new merger may bring new scenarios to businesses front.
For Money Morning