APN may list local unit on New Zealand sharemarket

APN News & Media chief executive Michael Miller
APN News & Media 12-month price history (ASX.com.au)

APN News & Media [ASX: APN], which publishes the New Zealand Herald, may list its New Zealand business on the local sharemarket.

The Sydney-based company has retained Grant Samuel to assist with its review of strategic options for APN New Zealand, which includes its New Zealand publishing assets, as well as The Radio Network which encompasses the Newstalk ZB and ZM stations, and its GrabOne businesses, it said in a statement. An initial public offering and NZX listing is one option being considered, it said.

APN's New Zealand unit last month posted an 8 percent decline in first-half revenue to A$201.6 million, and a 9 percent fall in earnings before interest, tax, depreciation and amortisation to A$34.6 million, reflecting the sale of South Island and Wellington newspapers and several magazine titles, including the weekly Listener magazine, to Germany's Bauer Media.

APN's New Zealand shares last traded at 85 cents, and have gained 82 percent so far this year.

(BusinessDesk)

This article is tagged with the following keywords. Find out more about My Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7746 -0.0032 -0.41%
AUD 0.9526 0.0010 0.11%
EUR 0.6334 0.0006 0.09%
GBP 0.4963 -0.0001 -0.02%
HKD 6.0070 -0.0255 -0.42%
JPY 92.6130 0.0680 0.07%

Commods

Commodity Price Change Time
Gold Index 1198.3 8.880 2014-12-18T00:
Oil Brent 59.3 0.110 2014-12-18T00:
Oil Nymex 54.4 -2.250 2014-12-18T00:
Silver Index 15.9 0.006 2014-12-18T00:

Indices

Symbol Open High Last %
NZX 50 5518.5 5545.0 5518.5 0.17%
NASDAQ 4752.6 4766.1 4748.4 0.09%
DAX 9901.3 9901.3 9811.1 -0.25%
DJI 17778.0 17830.6 17778.2 0.10%
FTSE 6466.0 6566.9 6466.0 1.23%
HKSE 23158.3 23189.6 22832.2 1.25%
NI225 17511.0 17621.4 17210.0 2.39%