APN shares soar after institutions stump up A$112M in capital raising

Fri, 21 Feb 2014

By Paul McBeth Feb. 21 (BusinessDesk) - Shares in APN News & Media surged to an 18-month high when they resumed trading after institutions put up A$112 million in a planned capital raising for the media group to buy out its partner to take control of its radio businesses. The dual-listed stock rose 14 percent to 56 cents on the NZX, its highest level since Aug. 16, 2012, and was up 22 percent to 53.7 Australian cents on the ASX. The Sydney-based company raised A$112 million from institutions with about 98 percent of those eligible investo...

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