Rakon backs strategy to boost depressed share price

Thu, 22 May 2014

By Paul McBeth May. 22 (BusinessDesk) - Rakon, whose shares have shed 86 percent of their value over the past five years, says its new strategy should deliver a boost to the company's depressed share price, and anticipates positive earnings in the 2015 financial year. The shares were unchanged at 22 cents, a discount to the net tangible asset of 36 cents per share, valuing Rakon at $42 million. The Auckland-based company said its 2014 annual loss more than doubled to $83.8 million as it took a $33 million loss on the sale of its Chinese i...

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