KMD Brands Secures NZ$11 Million in Retail Entitlement Offer Completion

MT Newswires Live
Apr 21

KMD Brands (ASX:KMD, NZE:KMD) has completed the retail component of its fully underwritten 1-for-0.73 accelerated renounceable entitlement offer, with eligible shareholders subscribing for around 182.6 million new shares at NZ$0.06 each, raising about NZ$11 million as part of a total NZ$58.5 million capital raising, according to a Tuesday filing with the Australian and New Zealand bourses.

The participation rate was around 52% of entitlements under the retail entitlement offer, with fully participating shareholders also applying for about NZ$4.5 million in additional shares via the retail shortfall facility, per the filing.

The remaining around 169.3 million shares, consisting of unsubscribed entitlements from both eligible and ineligible retail shareholders, will be offered for sale through a retail shortfall bookbuild on Tuesday, while the company shares are in trading halt, the filing said.

Trading is expected to resume on Wednesday, with any premium above the offer price after deducting withholding tax distributed to eligible shareholders by May 5, the filing added.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10