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KMD Brands Limited ( (AU:KMD) ) has shared an update.
Institutional investor Allan Gray Australia Pty Ltd and its related entities have lifted their substantial holding in KMD Brands to 20.129% of the company’s ordinary shares. The move follows participation in KMD’s recent institutional entitlement offer and placement, as well as on-market trades and other mechanisms, consolidating Allan Gray’s role as a key shareholder and signalling continued institutional backing for the retailer.
Allan Gray’s stake increased to 291,386,925 shares from 115,309,047 previously, as KMD’s total shares on issue rose to 1,447,582,133. The enlarged position, spread across multiple global funds and custodians, underscores strong fund-manager support for KMD’s capital-raising strategy and may influence future governance dynamics and market perception of the company’s outlook.
More about KMD Brands Limited
KMD Brands Limited is a New Zealand-listed company operating in the retail and outdoor apparel sector, known for its portfolio of lifestyle and adventure brands. The group targets consumers in the Australasian and international markets through branded clothing, footwear, and equipment, and is widely held by institutional investors active in regional equity markets.
Find detailed analytics on KMD stock on TipRanks’ Stock Analysis page.