Ten shares suspended for fund raising

Ten’s shares have been placed in a trading halt as the company prepares for a capital raising “and other activities”.

According to an announcement to the ASX, the troubled TV network wants the trading halt to be in place until Friday.

The company is due to hold its AGM in Sydney tomorrow.

Prior to the trading halt, Ten’s shares were priced at 32.5c, valuing the company at $467m.

The network has been battered by a revenue decline driven by the tough media market and poor ratings.

A company usually holds a fund raising when it is concerned that it may not have enough operating capital to meet its obligations, or is looking to make an acquisition that can’t be funded from its existing funds.


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