New Zealand's ikeGPS surges on private equity buyout offer

Ikegps

07/02/2025 24:13

** Shares of New Zealand's ikeGPS Group  IKE.NZ  rise 17.7%
to NZ$0.730, their highest since late July last year
    ** Co's ASX-listed shares  IKE.AX  climb 19.6% to A$0.67,
their highest since late July last year
    ** IKE, which designs software and hardware for utilities to
measure and manage power and telecommunications assets, receives
a buyout offer from an unnamed "large, credible private equity
group"
    ** Says offer of about NZ$1 per share implies enterprise
valuation of up to NZ$170 million ($96.42 million)
    ** IKE did not disclose any details about the PE group
    ** Says a transaction at this price would not secure
shareholder support, and has ended discussions
    ** IKE's New Zealand stock up 30.4% this year, including the
day's move


($1 = 1.7630 New Zealand dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))