23 Jun 2009

Media group raises $A99 million from shareholders

6:49 am on 23 June 2009

APN News & Media has raised $A99 million from shareholders in order to reduce debt and strengthen its balance sheet.

The media group, which owns The New Zealand Herald newspaper and The Listener magazine, had offered one new share for every five existing shares.

It raised $A83 million from institutional investors and $A16 million from retail investors.