I agree that it is hard to see IVC back in the $11- range in the near term, but what is your time-frame for re-entry ?
The SP range in the past 52 weeks is $10.47 low and $14.66 high (source: ASX).
Not sure that this range will be repeated in the next 52 weeks, and agree the high 12's would still be good value. I will be there bidding in this range as well.