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Thread: RAK Rakon

  1. #16
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    Does anyone have a link for the prospectus?
    Or are there only hard copies out there?

  2. #17
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    Rakon bullish on GPS sales

    19.04.06
    By Richard Inder


    Rakon, the shortly-to-be-floated maker of the world's smallest GPS receiver, is expecting its sales next year to increase by almost a quarter as its technology is adopted by makers of cars and mobile phones.

    The figures, detailed in the prospectus for the company's $66 million share offer which opened yesterday, show sales growing from $73.3 million in the year to this March to $90.6 million next year. Over the same period it expects net profits to grow $4.4 million to $7.2 million.

    The forecasts reflect assumptions the directors reasonably expect to occur, compared to a less robust standard used in other recent float forecasts, which were based on possible outcomes but not the most probable outcome.

    Profits may rise higher still, since the forecasts were prepared using a New Zealand dollar conversion rate of US67c. Yesterday's close was US62.65c.

    The company makes around 37 per cent of its sales in North America.

    But investors should not expect to see the proceeds in shareholder payouts as Rakon has no plans to pay dividends.

    Rakon says: "Surplus funds will be retained in order to capitalise on immediate and future growth opportunities."

    The company was founded by Warren Robinson in a Howick basement in 1967. It started developing crystals for electrical applications and has since branched out into oscillators and GPS (global positioning system) receivers.

    It is now eyeing the potential for these technologies to be used in the 500-600 million mobile phones and the 70-80 million cars manufactured each year.

    Around 41.2 million shares in Rakon are to be offered to the public at $1.60 apiece. Of these, 35 million are being sold by the Robinson family trust, while another 6.25 million are also being put on the the market.

    After listing, the family trust will retain a 22.6 per cent stake. Warren's sons Brent (managing director) and Darren (marketing director) will have stakes of 9.3 per cent each.

    Peter Maire, founder of the GPS receiver company Navman, will retain a 15.6 per cent stake.

    The new shares will raise about $10 million to expand the company's sales and marketing presence and production capacity at its Mt Wellington headquarters. As many as 30 new jobs could be created there, where Rakon employs 500 people.

    The company for the first time is being less coy about its links to the military, splashing images of warplanes and soldiers over its prospectus. Last year talk that its products ended up in smart bombs used in Iraq sparked a media storm.

    Around 65 per cent of its sales come from its top 15 customers. US defence contractor Rockwell International is a key customer.

    Investor demand for the shares has so far been strong.

    This is reflected in the $1.60 share price, substantially higher than the $1.10 to $1.40 indicative range at which the shares were first offered to investors and a later revised range of $1.20 to $1.50 a share.

    On listing, the company will have a market value of around $170 million, well ahead of its initial expectations disclosed by the Business Herald in January of about $147 million.

    The float is expected to cost as much as $4.3 million.

    But Rakon will cover only $1 million of this charge, the rest covered by the vending shareholders. UBS is the chief beneficiary.

    RAKON TIMETABLE

    * Yesterday: Share offer opens
    * May 12: Offer closes
    * May 15: Shares allotted
    * May 16: Trading begins


    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  3. #18
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    The offer will be targeted to institutional investors in New Zealand, Australia and elsewhere, and retail investors who will principally be clients of leading brokers in New Zealand.

    For more information please contact a NZX broker firm.

    http://www.rakon.com/whatsnew/displa...&template=news

    Regretfully due to unprecedented demand our allocation in the Initial Public Offer of Rakon Limited has now been filled.

    http://www.asbsecurities.co.nz/

    ASB has none left even before the offer opened. The share is going to sky rocket on opening day but it will be too difficult to be part of it.
    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  4. #19
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    Well it has been being pumped by the brokers on TV the last couple days, so guess thats to be expected.
    Would have been nice to be on board at the start, but agree looks too tough now.
    Should have been more awake this month...


  5. #20
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    Damn that was quick

    So there is no way anyone can get in on it now?

  6. #21
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    I'm meant to be getting some when they're issued but I definitely will be buying more when they list.There appears to be some good blood behind this stock!Having Peter Maire putting money into the company is a definite plus

  7. #22
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    quote:Originally posted by corsair

    Damn that was quick

    So there is no way anyone can get in on it now?
    Asked for 200k, got 5K. Very tight. Probably go up but might be based on hype and feeding on itself than fundamentals.

  8. #23
    tsb
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    asked asb for 19K - got zipp

  9. #24
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    Think about this for 1 minute.

    600m mobile phones currently sold a year and this is projected to grow to 1 billion by 2010.

    Assume 10% incorporates GPS within the next 2 years so 60m requires GPS receiver.

    Rakon has 50% market share so 30m receivers sold by company.

    Makes 50 cents per receiver so profit = $15m or $10m after tax.

    If 20% of mobiles incorporate GPS, profit to Rakon will be $20m.

    2007 profit projection (without mobile phones)is $7m.

    Some fantastic blue sky if you believe more mobiles will incorporate GPS in the near future.

    That's the pitch.


  10. #25
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    I have been informed that there is no public pool for this IPO.

    If you can't get them from a broker you're not getting any.
    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  11. #26
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    quote:Originally posted by sniper


    Think about this for 1 minute.

    600m mobile phones currently sold a year and this is projected to grow to 1 billion by 2010.

    Assume 10% incorporates GPS within the next 2 years so 60m requires GPS receiver.

    Rakon has 50% market share so 30m receivers sold by company.

    Makes 50 cents per receiver so profit = $15m or $10m after tax.

    If 20% of mobiles incorporate GPS, profit to Rakon will be $20m.

    2007 profit projection (without mobile phones)is $7m.

    Some fantastic blue sky if you believe more mobiles will incorporate GPS in the near future.

    That's the pitch.

    Snaper.

    Will Rakon hold their 50% of marketshare?

    Will it still be able to maintain the smallest gps by 2010?

    Can it maintain its margin over the next few years?

    Do blue skys stay blue or does it start pising down after a while?

    I love you snaper, straight from a brokers mouth

  12. #27
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    Lanenz,

    Unlike you, I do not believe in blue skies.

    Rakon? You are welcome to the hype. [^]

  13. #28
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    quote:Originally posted by sniper

    Unlike you, I do not believe in blue skies.
    Go find a window and take a look outside.
    om mani peme hum

  14. #29
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    Especially here in Wellington today!

    An IPO fully subscribed is a great thing on a shrinking exchange, maybe sniper is feeling the fear?

    For those wanting to stag Rakon the first day or so should do well.

    Interesting small company & will keep an eye on it.

  15. #30
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    Plus SMS anyone?

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