Shares of Australian broadcaster Nine Entertainment declined in its first trading day by as much as 3.4% in Sydney to AUD 2 per share from its offer price of AUD 2.05.
Nine Entertainment Co., Australia's second-largest media company, seeks to raise AUD643 million (USD582 million) in its initial public offering. If successful, the deal could give Nine a market capitalization of AUD1.93 billion.
Nine Entertainment Co's upcoming IPO could put the company's value at over AUD2.77 million.
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