MIDDAY UPDATE: Kathmandu shares soar on prospect of Rod Duke transferring some of his Briscoe 'magic'

Tue, 30 Jun 2015

June 30 (BusinessDesk) - Kathmandu shares soared to a four-month high after Briscoe Group acquired a 19.9 percent stake and said it plans to make a full takeover, raising the prospect that managing director Rod Duke could use his skills to revive the struggling outdoor equipment and clothing chain. Kathmandu stock rose as much as 29 percent to $1.80, the price Briscoe paid institutions for most of the holding, and recently traded at $1.74, giving the company a market capitalisation of $352 million. Briscoe shares last traded at $2.90, has a...

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