Kathmandu to raise $207 million to offset coronavirus hit - News Summed Up

Kathmandu to raise $207 million to offset coronavirus hit


Outdoor equipment retailer Kathmandu is planning to raise about $207 million to help see it through the store closures and uncertainty due to the coronavirus pandemic. The result included costs of $10.1 million related to its purchase of Australian surf label Rip Curl for A$350 million (NZ$368m). Sales rose to $363.7 million from $232 million a year earlier. Kathmandu will issue about 413 million new shares, representing 140.3 per cent of existing shares, through a $30 million institutional placement and a $177 million offer to shareholders. In Kathmandu, Oboz, and Rip Curl, we believe that we have authentic and inspirational brands that will attract loyal customers for the long-term."


Source: Stuff March 31, 2020 20:44 UTC



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