APN says IPO options remain open

NZME has just expanded its events business, buying up nine regional events. Photo / Peter Meecham

APN News & Media is keeping its options open around a potential sharemarket float of its New Zealand assets and says an update will be given when the firm releases its full-year result next week.

APN will report its full-year result on Thursday next week.
The Australian Financial Review ran speculation that the APN will confirm approval for the float at the results briefing.

But an APN spokeswoman today said nothing had changed.

"The board is keeping all its options open," she said. "It'll be discussed at the next board meeting with a full update at the results."

Sydney-based APN combined its Kiwi businesses - which include the New Zealand Herald, NewstalkZB and daily deal website GrabOne - under a single entity, NZME., in September.
At that time it raised the possibility that NZME. could be floated on the NZX and Australia's ASX.

A series of investor presentations were held in November.

APN chief executive Michael Miller told the Herald in December that the company had received positive feedback regarding the possible float but a decision to proceed had not been made.