Ten shares fall ten per cent after trading halt

October 29, 2015 1:14

Shares in Ten Network Holdings have collapsed nearly ten per cent following the end of a trading halt which they were put into on Monday.

The trading halt was to allow Foxtel to take up its shareholding investing some $77m in the business at $0.15 a share, following last week’s approval by the competition and media watchdogs the ACCC and ACMA, and also saw an additional $77m share placement for existing shareholders.

Ten shares fell to $0.17 cents before recovering $0.005 cents to $0.175 giving the company a market capitalisation of $452.5m, less than a week after it posted a $312.2m loss for the 12 months to August 31.

The result came despite an improved ratings performance in 2015 with shows like Family Feud, Masterchef and The Bachelorette and The Bachelor.

Subscribe to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

Topics