Network Ent. airs on Oz exchange

SYDNEY – Video distrib Network Entertainment has bowed on the Australian Stock Exchange, following its successful A$12 million ($9.6 million) public share offering. Shares traded at a 7.5% premium to the $1.60 issue price, before closing at $1.59 on its opening day.

Following the public offering, Network is capitalized at $27 million. Proceeds will be used to retire debt and acquire more film and video distribution rights. Earnings before interest and tax are forecast at $3.3 million on sales of $29 million for fiscal 1997.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Scene News from Variety