APN raises A$160M in institutional component of offer with 95% uptake

Jonathan Underhill
Thu, 12 May 2016

By Jonathan Underhill May 13 (BusinessDesk) - APN News & Media has raised $160 million from the institutional component of its entitlement offer, with an uptake of 95 percent and the shortfall hoovered up at a premium. The Sydney-based owner of NZME in New Zealand, whose media assets include the NZ Herald, Newstalk ZB and e-commerce sites such as GrabOne, aims to raise a total of A$180 million in its underwritten one-for-three renounceable entitlement offer at 53 Australian cents a share. It will use the funds to repay some of its debt an...

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