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Rakon ( (NZ:RAK) ) has issued an update.
Bourns, Inc., a substantial product holder in Rakon, has continued increasing its stake through a full cash takeover offer launched in February at $1.55 per share. Following further acceptances from Rakon shareholders, Bourns now has a relevant interest in 178.9 million shares, representing 77.843% of Rakon’s ordinary shares.
The latest increase of 6.97 million shares since 24 March reflects a movement of more than 1% in Bourns’ holding, tightening its control over the NZX-listed company. Although the interest remains conditional on the offer becoming fully unconditional and settlements completing, the growing majority position signals Bourns’ advancing takeover and a likely change in Rakon’s ownership structure.
More about Rakon
Rakon Limited is a New Zealand-listed technology company that issues ordinary shares under ticker RAK on the NZX. The company operates in the electronics and frequency control sector, supplying precision components that are widely used in communications and related high-tech applications.
Average Trading Volume: 197,370
Current Market Cap: N$340.1M
Find detailed analytics on RAK stock on TipRanks’ Stock Analysis page.