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Rakon ( (NZ:RAK) ) has provided an update.
Bourns, Inc., a substantial shareholder in Rakon Limited, has increased its relevant interest in the NZX-listed frequency control specialist to 190,284,348 ordinary shares, representing 82.801% of Rakon’s issued share capital. This positions Bourns as the dominant shareholder, consolidating effective control over the company.
The increase follows further acceptances of Bourns’ ongoing cash takeover offer at $1.55 per Rakon share, under which various shareholders have agreed to sell their holdings. With more than four-fifths of the company now effectively under its control, Bourns’ strengthened stake marks a significant step toward completing the takeover and reshaping Rakon’s ownership structure.
More about Rakon
Rakon Limited is a New Zealand-based technology company listed on the NZX, specialising in the design and manufacture of frequency control products such as crystal oscillators used in telecommunications, positioning, and other advanced electronic systems. Its shares trade under the ticker RAK and it has attracted strategic interest from international buyers seeking control of its specialised capabilities.
Average Trading Volume: 160,559
Current Market Cap: N$344.7M
See more insights into RAK stock on TipRanks’ Stock Analysis page.