Kathmandu is raising additional funds, for a total of NZ$ 207 million (€112.5m-$121.3m) through a series of placements with institutional and other shareholders, offering 1.2 shares for each share in their possession. Institutional shareholders have already taken up 96 percent of their entitlements under a first tranche that ended on April 1. The new shares will be offered to residents in Australia and New Zealand between April 3 and 16. They will start trading on April 9 along with the existing shares.