Australia's Nine to raise up to $658 million in IPO - prospectus

Reuters

SYDNEY (Reuters) - Australia's Nine Entertainment Co Pty Ltd (IPO-NEL.AX) is seeking to raise up to A$697 million ($658 million / 413 million pounds) in an initial public offering (IPO), according to its prospectus filed on Monday.

Nine plans to sell 304.7 million new and existing shares through in the float at an indicative price range of A$2.05 to A$2.35 a share, the prospectus said.

The float will be able to help the troubled TV network to pay down debt, which avoided receivership with U.S. hedge funds Oaktree Capital Group (OAK.N) and Apollo Global Management (NYS:APO) taking control in a more than $3 billion debt for equity swap.

(Reporting By Maggie Lu Yueyang; Editing by Lincoln Feast)

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