RAK Rakon

[Mel]

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.

I'm glad I've increased my holding over the last year or so, it is now a substantial holding - if the proposal translates to an offer, $1.70 would give me a tidy profit and I would be happy given the recent weakness.

[Rawz]

Wow good offer!! I sold not long ago… lol can’t win em all

[Lego_Man]

Such a well worn story now. NZX listed company chronically underperforms (optionally after an overpriced float), loses insto and fund manager coverage, abandoned by retail too as punters are burned one after the other. Becomes underfollowed and undervalued, offshore opportunist swoops in. Rinse and repeat. Next are TWR and MFB.

[jonu]

So where does the price settle in the interim?


Discl; Holding

[moimoi]

Thank you to Rakon for advising ALL shareholders such that we are now all aware an indicative offer has been made.

Useful indicative opening bid, not in relation to the obvious near term prospects, but more in the context of the recent piss weak NZX market pricing for the stock.

Without any specific knowledge i'd take a guess that $390M won't be enough to get the family and long term holder Wairahi over the line...

A starting point for a committed buyer perhaps....

GLTA.

[sb9]

Was only matter of time before an offer like this surfaced. Guess its upto majority holders Robinsons to make the call, take the money and run or negotiate something over $2 per share. Hope they don't stuff it up this time for the sake of long (suffering) holders.

Glad I held my nerve when it got sold down badly after results. Always tht this would be picked up by someone who knows and understands the industry they operate in.

[moimoi]

So where does the price settle in the interim?


Discl; Holding

higher imo..

discount to indicative offer price reflects an underinformed market imo...

perhaps a function of only 30 minutes trading before market close and on a Monday with offshore markets offline.(ie: arbitrage funds)

GLTA

[ronaldson]

Funny how things go. This was never on my radar until the Auckland Branch of NZSA undertook a company visit just a few weeks ago. As we left after the presentation and the facility tour on that occasion I picked up a copy of the FY23 Annual report ( to 31 March ) offered as we departed and later read it from cover to cover, followed by the Interim Report to 30 Sept 2023. Then at the sharetrader "get together" at Oyster and Chop in November it was one share discussed at least by some and Oliver mentioned he had commenced as a holder, thou rueing his entry price at the time (bet he doesn't now!), and so I finally felt brave underpinned by my thought that geo-politics suggested RAK could ultimately be a takeover target.

We don't know who the third party is just now and it looks like more water is to flow under the bridge but however it is the share price will not revert to the low 60's again. I don't feel motivated to sell presently so happy to wait and see.

[Toddy]

Offshore money to the rescue. It's a fantastic offer.

The NZX lack of capital scares me with talk of 2024 Bay of Plenty Regional Council selling down Pot, Christchurch Council assets on the block, Wellington Airport and Auckland City Councils Ports of Auckland etc

[Mel]

Was only matter of time before an offer like this surfaced. Guess its upto majority holders Robinsons to make the call, take the money and run or negotiate something over $2 per share. Hope they don't stuff it up this time for the sake of long (suffering) holders.

Glad I held my nerve when it got sold down badly after results. Always tht this would be picked up by someone who knows and understands the industry they operate in.

Although, I've believed there is a turnaround story to invest in, I'm hoping the Robinson's take the view that they should just exit on the basis that a better offer might not be forthcoming in the short to medium term.