Rakon stories

US firm Bourns launches NZD $356m bid for loss‑making Rakon, offering NZD $1.55 a share and locking up 41% of the chip maker’s stock.

Brent Robinson, the former CEO of Rakon, has joined Quantifi Photonics' board as an independent director, bringing his experience in technology and growth.

New Zealand's Quantifi Photonics appoints Brent Robinson, a former Rakon CEO with experience in product development and market leadership, as director.

Rakon returns to profit with a USD $3.2 million net gain after closing its UK plant and shifting production to India and NZ, despite doubling its debt.

Following a NZD $30,000 fine from the NZ Markets Disciplinary Tribunal, embattled Rakon announces closure of its UK Lincoln-based plant.

Rakon fined £30k by NZ Tribunal over premature market release timing, linked to a strategic partnership and factory sale last year.

Rakon has advised employees of its UK subsidiary Rakon UK Limited, of its intent to enter consultation for a proposed closure of its British plant.

Rakon managing director Brent Robinson and his brother, executive director Darren Robinson forced to sell shares after a telling off by the Takeovers Panel.

Rakon pledges to pay up to 50% of net profit in dividends amidst a 37% share price slump this year, aiming to restore investor faith.

Rakon faces a staggering USD $54 million net loss for 2014 due to a USD $37 million write-down on its Chinese investment, causing shares to plummet 8.7%.

Rakon's Brent and Darren Robinson to sell 493,000 shares each after breaching Takeovers Code. The brothers' purchases pushed family ownership over 20%.

The second-worst performing stock on the New Zealand sharemarket in the past year, will sell 80 percent of its Chinese joint venture factory to reduce debt.

Rakon's losses soar to $32.8m as it writes down assets in China and NZ, hitting the lower end of its downgraded earnings forecast.

Harbour Asset Management reduces shareholding from 9.04% to 5.15% following cuts to the company's annual earning guidance.

Shares in Auckland-based Rakon hit a historic low after slashing annual earnings guidance, plummeting 24% and wiping out NZD $17m in market value.

Rakon slashes full-year earnings forecast to USD $8-12 million, down from USD $14-16 million, due to delayed sales and thinner margins; shares drop 2.4%.

A sluggish first half saw Rakon's six-month loss widen to USD $3.96M, with falling revenues and rising expenses. Shares dropped 4.4% to 43 cents.

Rakon to cut 60 New Zealand jobs, shifting manufacturing to China and India to cut costs and improve profits by NZD $10 million annually.

Fresh from agreeing a US$56m deal with Kiwi firm Rakon, Huawei’s CEO Ren Zhengfei arrives in Australia to cement their credentials as a mainstream vendor.

Auckland-based company has agreed a deal with Huawei Technologies, stretching five years and quadrupling sales.