Austereo listing lifts Roadshow

Coin raised will be used to reduce company's debt

SYDNEY — Village Roadshow raised $A354 million ($187.6 million) from Monday’s stock exchange listing of Austereo, Australia’s leading radio network.

The issue price was 98¢, on the low end of Village Roadshow’s expectations. Company hoped to strike a price of $1.16.

The shares traded at around 90¢, amid weakness in the media sector and apparent investor nervousness about the Australian economy.

Village Roadshow group manager investor relations Andrew Bowden told Daily Variety that the funds raised will reduce the company’s debt, which was $265 million in the 2000 fiscal year.

More Biz

  • Dylan Farrow CBS This Morning

    Dylan Farrow Gives First Interview About Woody Allen Allegations: 'I Am Telling the Truth'

    SYDNEY — Village Roadshow raised $A354 million ($187.6 million) from Monday’s stock exchange listing of Austereo, Australia’s leading radio network. The issue price was 98¢, on the low end of Village Roadshow’s expectations. Company hoped to strike a price of $1.16. The shares traded at around 90¢, amid weakness in the media sector and apparent […]

  • Ajit Pai Free Speech

    State Attorneys General File Suit Over FCC's Net Neutrality Repeal

    SYDNEY — Village Roadshow raised $A354 million ($187.6 million) from Monday’s stock exchange listing of Austereo, Australia’s leading radio network. The issue price was 98¢, on the low end of Village Roadshow’s expectations. Company hoped to strike a price of $1.16. The shares traded at around 90¢, amid weakness in the media sector and apparent […]

  • Miramax Parent Company Enters Fray for

    Miramax Parent Company Enters Fray for Weinstein Co.

    SYDNEY — Village Roadshow raised $A354 million ($187.6 million) from Monday’s stock exchange listing of Austereo, Australia’s leading radio network. The issue price was 98¢, on the low end of Village Roadshow’s expectations. Company hoped to strike a price of $1.16. The shares traded at around 90¢, amid weakness in the media sector and apparent […]

  • Alec Baldwin Woody Allen

    Alec Baldwin Criticizes Stars Denouncing Woody Allen: 'It's Unfair and Sad'

    SYDNEY — Village Roadshow raised $A354 million ($187.6 million) from Monday’s stock exchange listing of Austereo, Australia’s leading radio network. The issue price was 98¢, on the low end of Village Roadshow’s expectations. Company hoped to strike a price of $1.16. The shares traded at around 90¢, amid weakness in the media sector and apparent […]

  • U.S. Capitol

    Senate Democrats Close to Majority on Vote to Restore Net Neutrality Rules

    SYDNEY — Village Roadshow raised $A354 million ($187.6 million) from Monday’s stock exchange listing of Austereo, Australia’s leading radio network. The issue price was 98¢, on the low end of Village Roadshow’s expectations. Company hoped to strike a price of $1.16. The shares traded at around 90¢, amid weakness in the media sector and apparent […]

  • Upright Citizens Brigade Marches in to

    Upright Citizens Brigade Marches in to Help Madison Avenue

    SYDNEY — Village Roadshow raised $A354 million ($187.6 million) from Monday’s stock exchange listing of Austereo, Australia’s leading radio network. The issue price was 98¢, on the low end of Village Roadshow’s expectations. Company hoped to strike a price of $1.16. The shares traded at around 90¢, amid weakness in the media sector and apparent […]

  • Pete Ganbarg

    Atlantic Records Names Pete Ganbarg President of A&R

    SYDNEY — Village Roadshow raised $A354 million ($187.6 million) from Monday’s stock exchange listing of Austereo, Australia’s leading radio network. The issue price was 98¢, on the low end of Village Roadshow’s expectations. Company hoped to strike a price of $1.16. The shares traded at around 90¢, amid weakness in the media sector and apparent […]

More From Our Brands

Access exclusive content