Retail company Kathmandu (ASX:KMD) has announced the launch of a $50 million share purchase plan.
The proceeds of the plan will fund the company’s acquisition of Oboz footwear which was announced last week.
The plan gives eligible shareholders the chance to invest up to $13 950 in new shares.
Shares will be issued at $2.16 and the share placement plan will close on the 13th of April.
Shares in Kathmandu (ASX:KMD) closed 7.33 per cent higher to $2.49 on Friday.