These 3 ASX All Ords shares are surging more than 10% on Thursday. Here's why

Investors are sending these three ASX All Ords shares soaring on Thursday.

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Three ASX All Ords shares are setting the bar high today.

During the lunch hour on Thursday the All Ordinaries Index (ASX: XAO) has given up its modest early morning gains and dipped into the red, down 0.2%.

But these three ASX All Ords shares are all soaring more than 10%.

Here's what's happening.

What's boosting these ASX All Ords shares?

Shares in financial technology company Iress Ltd (ASX: IRE) are up 13.9% at the time of writing, trading for $6.97 apiece.

This comes following the release of a strategy update and guidance upgrade.

The ASX All Ords share said its transformation program is progressing well into 2024. Its "refreshed" leadership team continues to focus on improving customer value, innovation and further cost efficiencies. The company said its technology uplift has "advanced well".

Likely offering a boost to the Iress share price today, the company has reduced its net debt to $308 million as at 31 October, down from $375 million on 30 June.

And Iress also upgraded its earnings guidance. FY 2023 earnings before interest, taxes, depreciation and amortisation (EBITDA) are now forecast to be in the range of $123 million to $128 million, up from the prior guidance of $118 million to $122 million.

Which brings us to the second ASX All Ords share leaping higher today, Hutchison Telecommunications Ltd (ASX: HTA).

Shares in the thinly traded Aussie telecommunications service provider are up 10.3% at 3.2 cents apiece.

With no fresh news out from Hutchinson, the gains look to be driven by a relatively small volume of trades today from investors who believe the stock was undervalued at yesterday's close.

Also leaping higher today

Rounding off the list of ASX All Ords shares rocketing higher today is IPD Group Ltd (ASX: IPG), a leading distributor and service provider to the Australian electrical market.

The IPD share price is up 13.6% at the time of writing at $4.77.

This comes after the company announced the successful completion of its fully underwritten institutional placement and the accelerated institutional component of its fully underwritten 1 for 13.65 accelerated pro rata non-renounceable entitlement offer of new IPD shares.

All new shares offered under the equity raising will be issued at a price of $3.93.

IPD will use the new capital to help fund its acquisition of CMI Operations from Excelsior Capital Ltd (ASX: ECL).

Commenting on the equity raising that's sending the ASX All Ords share soaring today, CEO Michael Sainsbury said:

IPD is delighted with the strong support shown by both existing and new institutional shareholders, demonstrating validation for IPD's strategy and the compelling strategic and financial rationale for the acquisition of CMI.

Motley Fool contributor Bernd Struben 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 Ipd Group. The Motley Fool Australia has recommended Ipd Group. 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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