Well the rumors are true – the Kathmandu float is on. Shares in the retailer are set to list on both the Australian Stock Exchange and the New Zealand Stock Exchange before Christmas.
The company is seeking to raise up to 375 million dollars through the sale of up to nearly 200 million shares at between $1.65 and $1.90 (Australian dollars that is) per share. The proceeds will go to the current owners who are selling down their holding and also to pay down debt.
For those unfamiliar with Kathmandu’s operations, it operates a chain of stores selling outdoor goods and clothing. It was established 1987 and has since grown to have a total of 91 stores across Australia, New Zealand and the UK.
The Kathmandu share offer opens on October 27th and closes on November 6th. Shares are expected to begin trading on a deferred settlement basis on November 13th.
Posted by aussiefloats 