IKE Group Limited has been affected by the closure of Silicon Valley Bank, with approximately NZ$5.3m of cash held at SVB, of which US$0.25m is insured.
IKE CEO, Glenn Milnes, commented that the situation is highly fluid and that IKE cannot estimate the extent to which the cash will be recovered.
However, due to IKE's strong cash position and growth momentum, IKE believes it remains strongly positioned.
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