Instos stump up for $44.2m in KMD Brands capital raise
KMD's shares plunged 46% to 6.1 cents after market open.
KMD Brands owns Rip Curl, Kathmandu and Oboz businesses.
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Retailer KMD Brands has raised $44.2 million from the institutional component of its heavily discounted capital raise at 6c a share.
In a statement to the NZX, the company said institutional shareholders had taken up 79% of their entitlements under the pro rata offer, with the remaining 132.4
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