MCM IPO OVERSUBSCRIBED
December 7th 2007 02:05
AUSTRALIA’S MCM ENTERTAINMENT IPO CLOSES OVERSUBSCRIBED
Australian media company mcm entertainment group limited’s initial public offering of 15 million 20 cent shares to raise $3 million has closed oversubscribed.
Managing Director, Tony McGinn said, “We are extremely pleased with the strong interest in the float from investors which demonstrates support for our objectives to grow mcm entertainment’s online and mobile entertainment divisions in the digital media sector, and to expand the company’s television production and distribution businesses.
“The company is already making strong progress towards the objectives set out in the prospectus.
A listing date of Wednesday 19 December has been confirmed by the ASX. Based on the offer price, mcm entertainment’s market capitalisation at listing will be approximately $13.58 million.
mcm entertainment has three divisions, radio, television and digital media (online and mobile). It operates Australia’s leading radio production and syndication business and is expanding its television programme production and distribution activities. Complementing these traditional media businesses, over recent years, the company has made a strong commitment to building its new digital media business.
- From Peter Olszewski's MediaBlab news service via Dow Jones' Factiva
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