The initial public offering (IPO) pipeline of Australia is set to improve along with merger and acquisition activity in 2014 despite poor performances this year, according to investment bank UBS.
The Australian Securities Exchange would be the venue for the IPO of Nine Network.
Nine Entertainment would raise AUD 600 million for its IPO in Australia, a source said.
Nine Entertainment's ownership has decided to undertake an IPO.
The Australian TV media company hopes to raise AUD $1.2 billion in an initial public offering before this year ends.
Australia's Nine Entertainment said that they are aiming to raise US$1.1 billion through an initial public offering.
U.S. media executive Harry Sloan has approached private equity firm CVC Capital Partners CVC.UL to buy a controlling stake in Nine Entertainment.