Sky TV offers cheap shares to raise $157m, talks up next phase

Thu, 21 May 2020

Sky Network Television plans to raise $157 million through an underwritten and deeply discounted share offer to shore up its balance sheet while national and international sporting events are restricted, and to prepare a new broadband product.The offer is priced at 12 cents a share – a 63 percent discount to yesterday’s closing price at 33 cents – and will increase the stock on issue four-fold. It is structured as a $9 million placement to institutions and a $148 million pro-rata entitlement offer at 2.83 new shares for each s...

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