Here's How Much Of Nine The Hedge Funds Will Keep When It Lists

NinePhoto: Getty/Cameron Spencer

The market is getting ready for Nine’s IPO, which will be the biggest listing in recent memory.

The Fin has a report on how much the media company’s hedge fund owners will keep when it floats, which has been a point of speculation in recent weeks.

Oaktree is going to keep 60% of its 28% stake in the business.

Apollo Global Management will hold on to all of its 26% stake.

Smaller shareholders — who own 46% of the business — will sell down around half of their holding.

Nine’s going to issue $275 million worth of new shares.

All this will leave the hedge funds with a diluted 35% control.

There’s more here.

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