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Rakon ( (NZ:RAK) ) has provided an update.
Bourns, Inc., a substantial shareholder in Rakon, has increased its stake to 223,849,255 ordinary shares, representing 97.407% of Rakon’s issued share capital. The move follows a full cash takeover offer at $1.55 per share, made under the Takeovers Code and declared unconditional.
Since its previous disclosure on 4 May, Bourns has gained a further relevant interest in 6,171,612 Rakon shares as more shareholders accepted the offer. Bourns is now the registered holder of 95.582% of Rakon’s shares and has an unconditional obligation to acquire an additional 1.761%, effectively placing it in near-total control of the company and reshaping Rakon’s free float and governance outlook.
More about Rakon
Rakon Limited is a New Zealand-listed technology company that issues ordinary shares on the NZX under the ticker RAK. The company operates in the electronics and frequency control components space, supplying high-precision products used in communications and other advanced applications.
Average Trading Volume: 98,368
Current Market Cap: N$355.1M
Find detailed analytics on RAK stock on TipRanks’ Stock Analysis page.