NZ Super Fund Adjusts Substantial Stake in KMD Brands After Equity Raise

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

New Zealand Superannuation Fund Nominees Limited, as nominee for the state-owned New Zealand Superannuation Fund, has disclosed an updated substantial holding in KMD Brands, now owning 201,502,056 ordinary shares, or 11.198% of the company. The change reflects both on-market sales and the allotment of new shares under KMD’s recent retail entitlement offer, slightly reducing NZSF’s percentage stake but maintaining it as a major long-term institutional shareholder, a signal of continued sovereign fund backing that remains relevant for other investors monitoring KMD’s register.

Between 14 and 28 April 2026, the fund sold 3,554,638 KMD shares on market while simultaneously participating in the retail shortfall bookbuild, acquiring 5,049,686 new shares as part of KMD’s capital-raising programme. The resulting mix of secondary sales and primary issuance has modestly diluted NZSF’s proportionate holding due to an enlarged share base, underscoring the impact of KMD’s equity raising on shareholder positions and the company’s evolving ownership structure.

The most recent analyst rating on (NZ:KMD) stock is a Buy with a N$0.14 price target. To see the full list of analyst forecasts on KMD Brands Limited stock, see the NZ:KMD Stock Forecast page.

More about KMD Brands Limited

KMD Brands Limited is a outdoor apparel and equipment company best known for its Kathmandu, Rip Curl and Oboz brands, targeting adventure and lifestyle consumers in New Zealand, Australia and global markets. The group focuses on performance clothing, surfwear and footwear, serving both retail and wholesale channels and positioning itself as a specialist in outdoor and travel gear.

Average Trading Volume: 1,104,503

Technical Sentiment Signal: Sell

Current Market Cap: N$102.9M

Learn more about KMD stock on TipRanks’ Stock Analysis page.