Nine's Hedge Fund Owners Are Going To Keep Most Of Their Stake When It Lists

Nine Photo: Getty/Cameron Spencer

Two hedge funds own most of Nine, and they’re keeping the majority of their stake when the entertainment company lists in mid-December.

This could mean, according to a report in the Australian Financial Review, that the value of new shares issued could be as little as $450 million.

The report says Oaktree Capital — one of the funds — wants to keep up to 80% of its stake.

Oaktree and Apollo Global Management own around 50% of the company, which conservative estimates say will be worth about $2.5 billion when it goes public.

There’s more here.

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