KMD Brands (ASX: KMD) has successfully completed the institutional component of its capital raise, securing approximately NZ$44.2 million.
The offer price for new shares was set at NZ$0.06 each, attracting an institutional take-up rate of approximately 79%.
An additional NZ$6.8 million was secured from the underwritten placement, contributing to the total institutional proceeds.
Following the institutional entitlement offer, the shortfall bookbuild successfully sold 132.4 million new shares.
These were placed at the same clearing price of NZ$0.06 per share.
Trading to Resume as Retail Offer Opens
Shares in KMD Brands are set to resume trading ex-entitlement from 2 April 2026.
New shares issued to institutional investors are expected to commence trading on 13 April 2026.
The company is also moving forward with the retail entitlement offer, which is scheduled to open on 7 April 2026.
This retail component is anticipated to raise gross proceeds of approximately NZ$21.1 million.
The retail offer price will be NZ$0.06 per new share, with an Australian dollar equivalent of A$0.05 based on an AUD/NZD exchange rate of 0.83465.
Prior Capital Raise Announcement
This institutional capital raise is part of the larger, fully underwritten NZ$65.3 million equity raising program KMD Brands announced on 30 March 2026.
The comprehensive funding plan also included a refinancing of the company's existing bank debt facilities.
At the time of the initial announcement, the offer price of NZ$0.06 per share represented a significant discount to the then-previous trading price.
“We are pleased with the support for the institutional component of the equity raising," group chief executive officer Brent Scrimshaw said.
"The raise will strengthen KMD’s balance sheet and position us to continue executing our Next Level transformation [and] we now look forward to inviting our retail shareholders to participate in the equity raising.”
