By Jackie Range
SYDNEY, Oct 31 (Reuters) - Media and entertainment groupNine Entertainment Co Pty Ltd is set to raise someA$600 million ($569 million) in an initial public offering andis expected to list on Dec. 6, a person familiar with theprocess said.
The IPO is expected to be the biggest by an Australiancompany this year and comes at a busy time for new listings DownUnder.
Shares will be offered in an indicative price range ofA$2.05 to A$2.35 a share, giving the company a marketcapitalisation of A$1.9 billion to A$2.2 billion, the personsaid.
Hedge fund Oaktree Capital Group, which owns some 28percent of Nine is expected to offload between 20 percent and 40percent of its stake. Apollo Global Management, itsother major stakeholder, is expected to hang on to all of itsholding.
The IPO prospectus will be lodged on Monday.
A spokeswoman for Nine declined to comment.
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