Briscoe Group (ASX:BGP) supports Kathmandu's capital raise

Company News

by Katrina Bullock

Briscoe Group Australasia (ASX:BGP) has announced its support for the Kathmandu Holdings (ASX:KMD) capital raising.

It has been allocated over 5.3 million shares from the institutional entitlement offer at a cost of approximately NZ$13.6 million.

The additional shares requested represent 50 per cent of Briscoe Group’s total entitlement. Group Managing Director Rod Duke says “[w]e are supportive of Kathmandu’s initiatives to diversify and grow their business via the acquisition of Rip Curl and were pleased to be able to support the capital raising and increase our current shareholding”.

This brings Briscoe’s investment in Kathmandu to a total of $87.9 million.

It continues to be Kathmandu’s single largest shareholder.

Shares in Briscoe Group (ASX:BGP) last traded at $3.42.

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.