New Zealand's KMD Brands slumps to record low on discounted equity raise

KMD Brands

02/04/2026 24:42

** KMD Brands KMD.NZ plummets as much as 70% to record low of NZ$0.060

** Lifestyle and sports firm says it completed NZ$58.5 mln ($33.6 mln) fully underwritten renounceable entitlement offer and NZ6.8 mln underwritten placement both at NZ$0.06/new share

** Issue price represents 48.7% discount to last close

** Co posts HY underlying net loss after tax of NZ$11.5 mln below year-ago NZ$16.1 mln

** Around 1.1 mln shares traded, ~2x 30-day average

** KMD down 50.9% YTD

($1 = NZ$1.7391)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))