IAG is again fending off stock market predators after another unsolicited bid significantly undervalued the company’s share price.

A company trading as Hassle Free Shares has contacted IAG shareholders with an offer of $2.51 per share – nearly half the company’s current trading price on the Australian Securities Exchange.

The offer is the third attempt by so-called rogue market opportunists to swindle shareholders out of their holdings. Last month, a company called Share Buying Group offered shareholders $2.67 per share, which IAG called on its shareholders to reject.

In July, IAG warned shareholders Share Buyback Group had requested a copy of the company share register.

Hassle Free Shares is believed to be the reincarnation of Share Buyback Group, which the Australian Securities and Investments Commission barred earlier this year from making any more offers.