Shares in Kathmandu traded at a premium of more than 4% after listing on both the New Zealand and Australian sharemarkets on Friday afternoon.
In New Zealand, shares in the outdoor clothing retailer opened at $2.22, up from the listing price of $2.13.
The shares reached as high as $2.29, before settling back down to $2.22 at the close of trading, valuing the company at more than $430 million.
