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Thread: RAK Rakon

  1. #1
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    Default RAK Rakon

    there was a bit of talk last month about Rakon looking to do an IPO or raise some funds. Has anyone heard any news?
    This could be a great company and the family have done a brillant job in establishing global leadership in a hi tech industry. Would be great to sell them list on the NZX but will probally end up doing a Navman and selling to a big offshore company. I hope not anyway.


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    apparently there's an IPO out next week, dunno who/what/if

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    Delegats?
    try underwater salvage... cos its there... somewhere... maybe...

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    Previous Rakon IPO thread

    Delegats announced today they would IPO shortly.
    om mani peme hum

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    http://www.nzherald.co.nz/section/st...ectID=10374356
    Fast-growing Rakon bucks trend to go to home market for $10m

    Technology company Rakon has decided to buck the trend and stick with the New Zealand Stock Exchange.

    The company said yesterday it planned to raise $10 million on the NZX to expand production capacity and develop new products.

    The share offer will comprise a selldown by Ahuareka Trustee - as trustee of the Ahuareka Trust representing founder Warren Robinson and family interests - of 35 per cent of the company.

    Rakon makes quartz crystals and oscillators used in telecommunications and global positioning systems.

    The company, which was formed in 1967 by Robinson in his basement, employs about 500 people at its Auckland headquarters and exports 95 per cent of its production.

    Forecast sales this year are $80 million with a trading profit of $14 million. The prediction for 2007 is $100 million and $20 million respectively.

    Navman founder Peter Maire, who with his investment partners owns 20 per cent of Rakon, said representatives of the firm had spent a week in the United Kingdom investigating the possibility of joining London's AIM market. The US Nasdaq and Australian ASX markets had also been examined as listing options.

    But Maire said the increasing cost of governance in the US after the Enron scandal had made a listing there a generally less attractive option. "It just got tougher and more expensive."
    Disc: JWI, VCT, VCT010

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    yep heard on the radio last night. They want 10 mill. If I had it they could get the lot from me. Anyway will be looking to get in early on this one. Nice to see them stay at home though I have got Neuren and Brainz also so Aussie is not too bad.

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    From Rakon's home page...

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

    PRESS RELEASE: RAKON LIMITED: 11:30AM 24TH MARCH 2006.

    Rakon Limited has confirmed that it intends to make an initial public offering of shares and listing on the NZSX.

    The share offer will comprise a sell down by Ahuareka Trustee Limited (as trustee of the Ahuareka Trust representing Warren Robinson and Robinson Family interests) of 35% of the company and the issue of new shares to raise $10 million. The proceeds from the issue of new shares will be used to expand production capacity and for the development of new products.

    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.
    \"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>

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  8. #8
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    SSR the whole article is worth posting as it seems to suggest that NZers my go crazy over high-tech or bio-tech IPOs.

    Flight of the bright benefits foreigners

    25.03.06
    By Owen Hembry


    BrainZ Instruments is on the verge of cracking the big time. With technology developed by scientists at the University of Auckland's Liggins Institute, the Auckland-based medical technology company has developed bedside monitors to test for brain injuries in newborn babies and young children.

    The company hasn't turned a profit but believes it will soon break into a global market it estimates at US$140 million ($227 million) in hardware and US$49 million a year in ongoing contracts.

    When the company does make a return from the New Zealand research that has gone into the monitors, much of the profits will go to overseas investors because BrainZ is listed on the Australian Stock Exchange.

    It is just one of a number of local companies that found when they needed investment to turn their research into a growing business they had to look overseas.

    Neuren and Living Cell Technologies have also listed in Australia, Endace has listed in London and Virionyx looks set to list in the United States.

    Opinion is divided, however, as to what is driving some of the best and brightest companies overseas and whether this country should be concerned.

    The reason for BrainZ listing overseas was simple: Money.

    Chief executive and former New Zealand test cricketer Justin Vaughan said the company wanted to tap into a bigger pool of capital "and a more, I suppose, accepting investor base in that they have had BrainZ-like businesses to invest in ... and had some good results out of those".

    BrainZ raised A$13 million ($15 million) when it listed on the ASX in December, with New Zealand agri-tech company Tru-Test retaining a 57 per cent stake.

    Vaughan said traditionally the New Zealand market had been more focused on yield stocks "and actually the costs associated with going to Australia are just really no greater".

    Robin Clements, senior economist at UBS investment bank, said companies listing offshore could affect New Zealand's economic growth.

    "For the successes, the capital gains and the income that flows from them goes offshore."

    He said the fact that companies chose to list offshore was indicative of a lack of national savings and its knock-on effect into the availability of local venture capital.

    Macquarie Equities investment director Arthur Lim said the local market did not provide the support needed by new technology companies.

    "If they try to raise the money over here, they will struggle and they will probably not get what they would perceive to be fair value for their potential discoveries."

    This is not due to a shortage of local finance.

    "There's plenty of money out there," Lim said.

    It was more because of a lack of confidence, which the market had brought upon itself. In the past, the market had paid too much for biotech listings, including oral health product manufacturer BLIS Technologies.

    "Again the market foolishly priced in all the upside, all the blue sky on day one ... all on the back of some promises," Lim said.

    Shares in BLIS were issued at 10c but rocketed to $2.20 before settling at $1.75 on the first day of trading in September 2000. The shares were trading at 13c yesterday.

    "It's performances like this that give the biotech sector in New Zealand a bad name."

    The market, however, was not alone in lacking confidence, with entrepreneurs keeping one eye out for a buyer.

    "If you are a successful biotech or technology company over here and someone offered you a cheque ... the mindset I think is to take the money and run," Lim said.

    Peter Maire, founder of navigation technology company Navman, agreed, but said the choice of whether to sell up or soldier on was not simple.

    He sold Navman to US marine technology company Brunswick in 2004 for $108 million.

    Maire said companies that sold up or floated offshore would lead to profits bein
    \"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.

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    quote:Originally posted by rmbbrave

    SSR the whole article is worth posting as it seems to suggest that NZers my go crazy over high-tech or bio-tech IPOs.


    The outcome of my one dabble in the NZ bio-tech field - GEN - was enough to scare me off for life! I think the same would be true for many other local investors, who got sucked in by the hype and the big names involved in that sell-off.
    Once bitten, twice shy.

  10. #10
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    From above Colin,

    ... despite market scepticism, however, there was one certainty that could be depended on.

    "That's the thing about the market, there will always be another generation of fools who will come and embrace the next great thing."

    \"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. #11
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    Investors fired up over Rakon

    13.04.06
    By Richard Inder


    Demand for shares in Rakon, the maker of the world's smallest GPS receiver, are reportedly bettering the expectations of the Auckland-based company's bankers.

    The company, founded by engineer Warren Robinson, in a Howick basement in 1967, will shortly offer shares to investors at $1.60 apiece.

    This price is substantially higher than the $1.10 to $1.40 indicative range the shares were first offered to investors and a later upwardly revised range of $1.20 to $1.50 a share.

    Rakon and adviser UBS arrived at this figure after brokers said they could sell a substantial volume of shares at this price.

    Rakon is today due to register the prospectus for its initial public offering of around $67 million and $70 million worth of shares. About 40 per cent of the shares will be placed with New Zealand investors.

    Investors are looking at the potential for the company's chips to be used in the 500 million to 600 million mobile phones and the 70 million to 80 million cars manufactured each year.

    Between 42.1 million and 44.1 million shares will be offered to the public. As much as 20 per cent of these will be new shares, raising as much as $14.5 million.

    This new cash will be used 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 at Rakon's headquarters in Mt Wellington, where it employs 500 people.

    Some potential investors are disappointed more shares are not available. But, it is thought the company, led by Robinson's sons Brent and Darren wants to establish Rakon's fair value before more new investors are brought on to the register.

    On listing, the company is expected to 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 price is also despite a cut in its forecast trading profits for this year and next. Last year, when the company mooted a public offer, it had forecast trading profits of about $14 million in the past March year and $20 million next year. It now expects $11.4 million this year and $15.5 million next.

    The reasons for the cut are unclear, but they may reflect a more conservative approach to forecasts ahead of the public float. Annual net profits are expected to rise from around $4.4 million to $7.2 million.

    The family last year sold a 20 per cent share in the business to Peter Maire, founder and chairman of navigation technology specialist Navman.

    He then said Rakon was New Zealand's "only real technology company".

    "If you talk about real, state-of-the- art technology on a global scale, they're a market leader.

    "They beat all of the major Japanese competitors hands down."
    \"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.

  12. #12
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    this kind of stock feeds on itself.
    If you're worried about falling off the bike, youd never get on.

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    Their VCXO business is coming to an end. There are lot of Asian companies manufacture VCXO’s. TCXO business is doing fairly well. They sell most of the reference TCXO’s for all the major gps chip sets.

    People like Motorola buy from them due to high reliability. I am not sure if their sine wave point matching custom IC based solution is used by other manufactures.

    The New GPS receiver is very smart move for them from traditional oscillator markets. I have ordered some samples and waiting to evaluate them. I think they have a good head start before everyone in Asia catches up to them.

    Any one know dates for the IPO?

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    First range was $1.10-1.40, second was $1.40-$1.50, now they're saying $1.60!

    Seems like someones getting a little greedy.

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    quote:Originally posted by Nevl

    there was a bit of talk last month about Rakon looking to do an IPO or raise some funds. Has anyone heard any news?
    This could be a great company and the family have done a brillant job in establishing global leadership in a hi tech industry. Would be great to sell them list on the NZX but will probally end up doing a Navman and selling to a big offshore company. I hope not anyway.


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