Rakon sells shares in Thinxtra, lifts FY18 guidance

Thu, 12 Oct 2017

By Sophie Boot Oct. 12 (BusinessDesk) - Rakon has sold about a fifth of its shares in start-up investment Thinxtra for A$3 million, which it will use to pay off debt, and lifted its earnings expectations for 2018. The sale is conditional upon the completion of Thinxtra’s pre-emptive rights process for all shareholders, and is expected to conclude by the end of November, it said. It plans to sell 199,000 shares, leaving it with 785,000 shares in Thinxtra, or 18.3 percent of the company. Rakon will make A$1.8 million gain on the sale before...

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