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)

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

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)


Got a question about this story? Leave it in Comments & Questions below.

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

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6378 -0.0009 -0.14%
AUD 0.9122 0.0020 0.22%
EUR 0.5734 -0.0010 -0.17%
GBP 0.4186 -0.0001 -0.02%
HKD 4.9476 -0.0031 -0.06%
JPY 76.4850 -0.2150 -0.28%

Commods

Commodity Price Change Time
Gold Index 1124.0 -9.100 2015-09-03T00:
Oil Brent 51.5 0.240 2015-09-03T00:
Oil Nymex 47.3 0.460 2015-09-03T00:
Silver Index 14.7 0.040 2015-09-03T00:

Indices

Symbol Open High Last %
NZX 50 5569.7 5573.0 5569.7 -0.33%
NASDAQ 4763.1 4800.2 4750.0 -0.35%
DAX 10161.4 10380.4 10048.0 2.68%
DJI 16364.3 16550.1 16351.4 0.14%
FTSE 6083.3 6215.7 6083.3 1.82%
HKSE 21101.4 21288.5 21531.2 -2.77%
NI225 18359.5 18481.6 18095.4 1.42%