| Kathmandu debuts on ASX at 4.4pc premium to listing price |
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November 13, 2009 CAMPING and outdoor retailer Kathmandu has made a strong debut on the Australian and With an opening price of $1.775, the stock's debut today was a 4.41 per cent premium to its issue price of $1.70. The stock opened at $NZ2.22 ($1.75) on the Despite market volatility with the S&P/ASX 200 Last: 4,706.40-41.50 13/11/2009 4:47 PM AEST
index down more than 50 points, Kathmandu's debut was better than expected with chairman James Strong saying the opening price was "quite good.'' He said that "Now the company has just got to get on with running the business,'' Mr Strong added. "It's not about the share price today, in a month, a year but three years down the road. "Despite market volatility, we made a strong start.'' Former owners Quandrant Private Equity and Goldman Sachs JBWere sold 100 per cent of their equity in the business when the two-day institutional book-build closed at $1.70 - at the lower end of the $1.65 to $1.90 indicative range on Wednesday. Quadrant's managing director Chris Hadley said he was pleased with the price. "At 3.5 times what we invested in Quadrant and GSJBWere led a leveraged buy-out of the Christchurch-based retail chain for $NS (Source from TheAustralian.com.au)
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