By Ross Kelly
SYDNEY--Shares in New Newscorp Inc. (NNC.AU) made their debut in
Sydney Wednesday, giving the publishing company spun out of News
Corp. (NWS) a market value of around 8.91 billion Australian
dollars (US$8.43 billion).
The new company holds newspaper assets including The Wall Street
Journal, New York Post and Times of London as well as book
publisher Harper Collins and Australian broadcasting units. The
shares are trading in Sydney on a conditional and deferred
settlement basis ahead of a formal split on June 28.
Around 200 million voting stock of New Newscorp hit the board of
the Australian Securities Exchange at midday local time, or 0200
GMT, at a debut price of A$15.00. Around 379 million non-voting
shares listed at the same time at A$15.60.
By 0218 GMT, the voting shares were trading at A$14.62 and the
non-voting shares were trading at A$14.50.
Write to Ross Kelly at ross.kelly@wsj.com
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