New Zealand based outdoor apparel and camping goods retailer Kathmandu (KMD) debuted on the Australian Stock Exchange today.
The stock opened the session more than 4% higher, which provided some relief for the deal’s underwriters following the more than 8% slump that Myer Holdings (MYR) suffered on its opening day last week.
Read more about Kathmandu Shares (KMD) lists on ASX – IPO – FloatMYER shares have been priced at $4.10 which analysts say should ensure a good market debut for the stock on Monday.
Although the price was at the lower end of the company’s indicative range of $3.90 to $4.90, the company says the offer received strong demand from retail investors and local and overseas institutions, The Courier Mail reports.
After three years in the hands of private equity owners, Myer will hit the boards with a market capitalisation of about $2.4 billion.
Read more about Myer Float IPO – Buying Myer Shares