Australian fund manager Yarra Capital sells 7% stake of KMD Brands

The buyers include FirstCape Group, Allan Gray and ACC. (Image: Supplied)

Mon, 14 Oct 2024

Australian fund manager Yarra Capital Management has divested 7% of dual-listed retailer, KMD Brands.A Friday evening substantial holding notice posted on the Australian Securities Exchange (ASX) showed Yarra Capital has disposed of 51.2 million shares – of a total 711m shares on issue – since November last year.Trading was cleared on Oct 10, when volumes of KMD Brands, the owner of Kathmandu, Ripcurl and Oboz Footwear, reached $24m.Since October 2021, KMD Brands’ share price has fallen steadily from about $1.60...

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