New Zealand based outdoor equipment retailer Kathmandu Holdings' shares today traded for the first time on the Australian Securities Exchange, at a price which was 4.4% higher than the issue price at the company' IPO. When it first started trading, the share was priced at A$1.79, in comparison to the A$1.70 IPO price paid by the investors.

Through its Initial Public Offering earlier this week, Kathmandu raised as much as $340 Million, after a sale of 200 million shares, at a price which was at the lower end of the $1.65 to $1.90 per share cost first announced by the firm.

The fact that investors were treading cautiously after Myer Holdings shares dropped 8.5% compared to the IPO rate in their first week of trading, led shares for Kathmandu to have a low IPO rate.

Kathmandu Holdings is one of the world's largest and most prominent retailers of camping clothing items and goods and currently operates as many as 82 outlets across Australia, New Zealand and UK.