Powerhouse plans to sell down Invert Robotics stake for $1.3 mln

Thu, 21 Sep 2017

By Sophie Boot Sept. 21 (BusinessDesk) - Christchurch-based technology incubator Powerhouse Ventures plans to sell about one-quarter of its holding of Invert Robotics for $1.3 million, a premium to its book value. In a release to the ASX, the company said it had been approached during Invert's current financing round. At present, it owns 34.6 percent of the company and the sale would reduce that to between 23.6 percent and 28.2 percent of the shares. The deal is conditional to completing a pre-emptive shareholder process and co-sale r...

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