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Rakon ( (NZ:RAK) ) has issued an announcement.
Bourns, Inc., a substantial shareholder in Rakon, has increased its holding in the company’s ordinary shares to 94.721%, equivalent to 217,677,643 shares out of a total 229,809,013 on issue. The rise follows acceptances from various Rakon shareholders of Bourns’ full cash takeover offer at $1.55 per share, lifting its stake from 93.061% and underscoring Bourns’ near-complete control of the register.
Bourns has already declared its takeover offer unconditional, creating an obligation to acquire the accepted shares in line with the offer’s terms. The latest movement of more than 1% in its substantial holding signals steady progress toward full ownership, with remaining shares largely in the hands of non-accepting investors and the balance of power firmly consolidated with Bourns.
More about Rakon
Rakon Limited is a New Zealand-listed technology company that issues ordinary shares under the NZX code RAK. The firm operates in the electronics sector, with its equity securities actively traded on the local capital markets and subject to New Zealand’s financial markets and takeovers regulations.
Average Trading Volume: 103,951
Current Market Cap: N$355.1M
Learn more about RAK stock on TipRanks’ Stock Analysis page.