Shares in Rupert Murdoch’s New News Corp (NNC) shot up almost 17% to $17 at about 2pm today, after a lackluster debut yesterday.
NNC was listed on the ASX for $15 a share and closed at $14.79. Analysts originally expected NNC to trade at $14-$18 a share, The Australia’s Nick Leys reports.
The new business is made up of News Corporation’s newspaper businesses in Australia, as well as publishing divisions in the United States and UK, Harper Collins, Foxtel, Foxsports and REA Group.
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