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

  • Aretha Franklin - American Soul Singer

    Aretha Franklin Funeral, Public Viewing Plans Announced

    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 […]

  • Stan Lee

    Judge Grants Restraining Order to Protect Stan Lee

    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 […]

  • Prince Rogers Nelson

    Prince Estate and Sony Release 23 Long-Unavailable Albums Digitally

    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 […]

  • Rosie O'Donnell, Frankie Shaw, David Nevins,

    Showtime Takes Boutique Approach Amid Intense Competition for Talent, Premium TV Viewers

    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 […]

  • Ryan Kavanaugh

    Relativity Media Sale to UltraV Holdings Approved by Bankruptcy Judge

    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 […]

  • Music Streaming Revenue placeholder

    Fraud Has Become the Latest Hurdle for Music Streaming

    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