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FINWIRES

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

-- 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.

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