APN raises A$23 mln in oversubscribed retail offer

Tue, 18 Mar 2014

March 19 (BusinessDesk) - APN News & Media, the Australasian publisher of the New Zealand Herald newspaper, raised about A$23 million in the retail component of a capital raising to take control of its radio businesses, buying out its partner. Investors in the media group subscribed for A$26.3 million in a 5-for-9 non-renounceable entitlement offer, of which A$17.7 million represented entitlements and A$8.6 million applications for new shares, the Sydney-based company said in a statement. Coupled with an institutional offer, APN has raised s...

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