Public offering set for Japan’s Fuji TV web

TOKYO — Fuji Television Network will go public Aug. 8 when its stock is listed on the first section of the Tokyo Stock Exchange, officials at the exchange announced Friday.

Fuji TV, currently one of Japan’s five private TV networks, will offer 200,000 shares for its initial listing. There are already 30,500 shares of Fuji TV that are privately held.

Fuji TV’s top private shareholder is Nippon Broadcasting System, a radio broadcaster. It went public in December .

Fuji TV will become the fourth broadcaster to be listed on the exchange.

The initial offering is expected to net Fuji about 83 billion yen ($735 million). The company is likely to use some of the proceeds from the listing to pay off loans it incurred earlier this year when relocating its headquarters and studios from downtown Tokyo to the Tokyo Bay front.

Fuji TV also announced recently that it would join Rupert Murdoch’s direct satellite broadcaster for the Japanese market, JSkyB, as a partner.

Yamaichi Securities Co. is the lead underwriter for the Fuji TV listing.

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