\n\tSYDNEY: Australia's Nine Entertainment is looking to raise up to AUD$697 million ($658 million) in an initial public offering.<\/p>\n
\n\tNine is planning to sell 304.7 million new and existing shares—131 million new shares and 178.7 million existing shares—at a price range of AUS$2.05 to AUS$2.35 a share. The IPO is expected to be the biggest of any Australian company this year. This will help the network to pay down debt, which avoided receivership with the U.S. hedge funds Oaktree Capital Group and Apollo Global Management taking control in a $3-billion-plus debt-for-equity swap.<\/p>\n
\n\tThe listing is set for December 6.<\/p>\n
\n\t"We are excited about the IPO and providing new shareholders with exposure to our leading integrated portfolio of complementary media businesses," said David Gyngell, Nine's CEO.<\/p>\n
\n\t"A listing on the ASX will help us to continue our strong momentum and consolidate our position as a leading free-to-air television network in Australia, maintain our strong industry position and expand the Nine Events business, and continue to grow Mi9 and our other digital media assets. We look forward to welcoming our new shareholders."<\/p>\n","protected":false},"excerpt":{"rendered":"
SYDNEY: Australia's Nine Entertainment is looking to raise up to AUD$697 million ($658 million) in an initial public offering. Nine is planning to sell 304.7 million new and existing shares—131 million new shares and 178.7 million existing shares—at a price range of AUS$2.05 to AUS$2.35 a share. The IPO is expected to be the biggest …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-2918","post","type-post","status-publish","format-standard","","category-top-stories"],"yoast_head":"\n