TV

Canwest launching equity offering for Ten Network shares

Canwest Global Communications Corp. announced on Monday that it will be launching an equity offering for Ten Network Holdings Limited. The equity offering represents approximately 13% of current total shares on issue for the Australian network and is expected to raise approximately A$138 million. The Canwest release says 120 million shares will be offered for sale at A$1.15 per share, and that the equity offering will reduce Canwest's ownership stake of Ten Holdings from approximately 57% to slightly more than 50%.
August 4, 2009

Canwest Global Communications Corp. announced on Monday that it will be launching an equity offering for Ten Network Holdings Limited. The equity offering represents approximately 13% of current total shares on issue for the Australian network and is expected to raise approximately A$138 million. The Canwest release says 120 million shares will be offered for sale at A$1.15 per share, and that the equity offering will reduce Canwest’s ownership stake of Ten Holdings from approximately 57% to slightly more than 50%.

About The Author
Daniele Alcinii is a news reporter at realscreen, the leading international publisher of non-fiction film and television industry news and content. He joins the rs team with journalism experience following a stint out west with Sun Media in Edmonton's Capital Region, and communications work in Melbourne, Australia and Toronto. You can follow him on Twitter at @danielealcinii.

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