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German channel Viva goes public
Frankfurt: The music television channel Viva, Germany's answer to MTV, said on Monday that it planned to raise up to 107 million euros ($102 million) when it is listed on the stock exchange from July 19. In its initial public offering, Viva Media AG is offering 4.655 million shares which will be priced at between 16 and 23 euros, the company said in a statement.Investors can apply for shares between July 3 and 17, with the final issue price to be set on July 18. A so-called greenshoe option of an additional 695,000 shares will be issue if the offering is heavily oversubscribed. Sole bookrunner is Merrill Lynch. Joint lead manager is Commerzbank. In 1999, Viva posted earnings before interest and tax (EBIT) of 4.4 million euros on sales of 48.8 million euros.-- AFP Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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