Almost certainly will come after market close today or before market open tomorrow. Fairest to all shareholders then, rather than release intra-day when many folk are working/have their attention elsewhere.
Bit of a bugger for those trades at open eh
Some might count themselves lucky .
At the top of every bubble, everyone is convinced it's not yet a bubble.
Well if it is a takeover offer you can probably bet it won't be anywhere like the circa $1.60 IPO price 16+ years ago.
Are we about to see the end of yet another sad chapter in public listings?.
IMBO (in my biased opinion), if RAK is removed from NZX, it will be doing NZ shareholders a favour. The ONLY beneficiaries of RAK over the past almost 20 years have been the Robinson family. Over this time RAK has only destroyed shareholder value chasing their various unicorns, raising cash to support hair brained investments that have never provided returns to shareholders. IoT anyone? Manufacturing in France? GPS chips. Indian manufacture
I think the market notice mentioned a third party? So my guess is an entity making an unsolicited buy in or take over/take out.
Rakon were talking acquisitions themselves, maybe they're being acquired instead? We'll see tomorrow?
What's the difference between a trade halt, and the non-trading period between closing bell and market open in the morning?
I'm not sure that the period after the "closing bell" as you put it is literally a "non-trading period" absent an actual trading halt. Brokers often cross shares after 5.00pm and report them to the market after, or before trading opens next trading day. And often trades occur after at the VWAP ( Volume Weighted Average Price calculated on that day's trades ) as fair between buyer and seller in circumstances. Presumably all these are prohibited under a trading halt in force. Would need to read the Rules applicable as to what brokers can do after hours as it were, but presumably the match pricing system is suspended without precluding brokers arranging trades (between their own clients?).
Hopefully it's not some lowball offer for this company of great potential and terrible execution.
Looks like you are right, $2.75 would be better, so we will see what the report says. Lot's of weak sellers who bought old Rakon, not the new and improved version.
Originally Posted by ronaldson
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