Allan Gray and ACC increase their stakes in KMD Brands

Allan Gray managing director Simon Mawhinney told BusinessDesk the current price rewards investors. (Image: NZME)

Mon, 14 Oct 2024

Self-titled “contrarian” fund manager Allan Gray has upped its stake in KMD Brands in what was likely a $24 million block sale last week.Of the 50.5m KMD Brands shares traded on Oct 10, many were bought by the Australian wing of South African investment firm Allan Gray.On Oct 11, Allan Gray Australia declared it had bought 11.5m shares since June, bringing its holding up 1.6 percentage points to 17.8%. Allan Gray managing director Simon Mawhinney told BusinessDesk the current price, which has hovered around 50c since mid-S...

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