Australia's Nine Entertainment shares debut almost flat at A$2.02

Reuters

SYDNEY, Dec 6 (Reuters) - Shares in Australia's NineEntertainment Co Pty Ltd opened almost flat on theirdebut on Friday after the company raised A$636 million ($575million) in its initial public offering.

Shares in the media and entertainment company opened atA$2.02, slightly lower than its IPO price of A$2.05. The stocklast traded at A$2.02, valuing the company at A$1.9 billion.

Nine's listing comes about a year after it avoidedreceivership with U.S. private equity funds Oaktree CapitalGroup and Apollo Global Management takingcontrol in a more than $3 billion debt-for-equity swap.

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