Macquarie To IPO Radio Group, Eyes New Acquisitions

MACQUARIE BANK will float shares in its AUSTRALIAN radio station group as an IPO. 

MACQUARIE MEDIA GROUP, headed by Exec. Chairman TIM HUGHES, will sell 195,250,000 shares at A$4.70-5.05 per share, with the goal of raising between A$927-966 million. The fund will be used for new acquisitions, which it says will be sought in AUSTRALIA, BRITAIN, EUROPE, and NORTH AMERICA. Shares in the fund, which is assuming control of MACQUARIE REGIONAL RADIOWORKS' 85 stations across AUSTRALIA, will hit the AUSTRALIAN STOCK EXCHANGE on NOVEMBER 10.

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