KMD held above its deeply discounted offer price in its trading return.
KMD's shares plunged 46% to 6.1 cents after market open.
Interest-rate sensitive tech stocks Serko and Gentrack were among the day’s biggest gainers.
The NZX-listed aged care provider has purchased a 90-bed care home from Metlifecare.
‘We see a growing list of hurdles that KMD must overcome in order to regain investor confidence from here,’ Craigs analyst says.
Kiwi shoe brand founded by Tim Brown listed in 2021 with a valuation of more than US$4b, but struggled to maintain momentum.
The benchmark ended March on an upbeat note.
‘With a $200 million capital raising not that long ago, I’d be interested to see what they’ve actually done with it,’ he says.
The board of the USX-listed company criticised BNZ Bank for appointing receivers to the company.
Trading in the company's shares has been on hold while the company sorted details of a capital raise and its interim results.
