Navman founder Peter Maire is to sell up to three million of the 14.9 million shares he holds in Rakon, with the proceeds to be used to fund other companies Maire is involved with.
According to a statement posted on the NZX website today, Maire is selling the Rakon shares, which are held by his investment vehicle, Tahia Investments, “for further reinvestment into several of New Zealand’s growing high-tech companies”.
Those companies include Fusion Electronics, an Auckland-based consumer electronics firm.
According to the statement, Rakon has been a “star performer” for Tahia.
Rakon’s shares were trading at $2.38 at the time of writing.