ACC lifts stake in KMD Brands after major equity raise

KMD Brands Limited ( (AU:KMD) ) has shared an announcement.

Accident Compensation Corporation has significantly increased its substantial shareholding in KMD Brands, lifting its stake from 7.79% to 11.63% of the outdoor retailer’s ordinary shares. The move follows a series of on-market trades and a major participation in KMD’s recent capital raising, including new shares issued under an institutional entitlement offer, a placement and an institutional bookbuild, consolidating ACC’s position as a key investor.

The enlarged holding underscores institutional support for KMD Brands’ latest equity raise and may be read as a vote of confidence in the company’s strategy and prospects. With ACC now controlling more than one-tenth of the expanded share base on both the NZX and ASX, existing shareholders face a more concentrated register, while KMD gains a strengthened cornerstone investor as it deploys the fresh capital.

More about KMD Brands Limited

KMD Brands Limited is a retailer and brand owner in the outdoor and lifestyle apparel sector, best known for its Kathmandu, Rip Curl and Oboz brands. The company focuses on outdoor adventure, surf and footwear markets across Australasia and other international regions through both wholesale and direct-to-consumer channels.

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