APN News & Media placed in trading halt as it plans for $200m-plus capital raising

APN News & Media has been placed in a trading halt following reports the media company plans to launch a $200m-plus capital raising in conjunction with a demerger of its New Zealand assets.

According to the report in The Australian, APN News & Media will update the market on the planned divestment of its Kiwi business, called NZME, at its annual general meeting on Wednesday.

According to APN News & Media’s full-year results released in February, NZME’s total revenues were down 3%.