PE-backed Nine raises $577m in Australia IPO
Australia's Nine Entertainment - which was saved from receivership by US hedge fund backers Oaktree Capital Group and Apollo Global Management - has raised A$631 million ($576.45 million) after pricing its IPO at the bottom end of the indicative range. It is the country's largest PE-backed offering this year.
The offering - which includes the sale 131 million new shares and 179.7 million existing shares at A$2.05 apiece - gives Nine a market capitalization of A$1.92 billion, representing a multiple of 8.3x...
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