Kathmandu lists at premium to offer price

Dual-listed Kathmandu Holdings Ltd debuted on the NZX today at a premium to its offer price.

Shares in the outdoor retailer opened at $2.22 compared to the $2.13 paid by New Zealand shareholders.

Australian investors paid A$1.70 ($2.16) and the shares listed at A$1.775. The price the shares were sold at was at the lower end of an indicative range.

The stock trades under code KMD.

A listing ceremony was held at the NZX Centre in Wellington this afternoon with representatives from Kathmandu, Macquarie Securities (NZ) Ltd and Goldman Sachs JBWere there to witness the debut.

"This listing provides the company the opportunity to expand the business and store network in Australasia, and gives investors the opportunity to invest in an iconic business that New Zealanders recognise and are proud of," said NZX markets development manager Geoff Brown.

Mark Todd, finance director of Kathmandu, said the listing was a milestone for the company.

"Kathmandu's board and management are excited about our company's future as we commence a new phase of growth as a public company," he said.

Kathmandu was purchased from founder Jan Cameron by private equity investors Quadrant Private Equity and Goldman Sachs JBWere who sold out during the initial public offer.

Yesterday dairy company Synlait said it would release a prospectus for a IPO this month.

Earlier this week BioVittoria Ltd launched an IPO of shares which will trade on the NZX.

The Hamilton-based natural sweetener manufacturer is selling 20 million shares at $1 each.

- NZPA