KMD Brands Raises NZ$65.3m as Retail Bookbuild Concludes

The latest announcement is out from KMD Brands Limited ( (AU:KMD) ).

KMD Brands Limited has completed the retail shortfall bookbuild for its fully underwritten pro-rata accelerated renounceable entitlement offer, finalising a broader capital raise. The offer, priced at NZ$0.06 per new share, contributes to total gross proceeds of about NZ$65.3 million and will see the new shares begin trading on NZX and ASX later in April.

Net proceeds from the placement and entitlement offer will be used to reduce net debt and strengthen KMD’s balance sheet alongside a refinanced debt facility. This bolstered financial position is intended to support execution of the company’s Next Level strategy, though non-participating or ineligible retail shareholders will not receive any compensation for lapsed entitlements.

More about KMD Brands Limited

KMD Brands Limited, dual-listed on NZX and ASX, operates in the retail and outdoor apparel sector. The group markets branded clothing and related products, with a focus on consumer-facing retail across New Zealand, Australia and other markets where its brands are distributed.

For a thorough assessment of KMD stock, go to TipRanks’ Stock Analysis page.