Nine Entertainment, the Australian media conglomerate that owns Ticketek, Sydney's Allphones Arena and free-to-air broadcaster Nine Network, will soon launch an initial public offering. The entertainment group expects to raise $697 million Australian ($660 million) of fresh capital and give it a market capitalization of about $2.2 billion Australian ($2.1 billion). The retail offer for shares opened Nov. 1, and Nine expects to begin trading Dec. 12 on the Australian Securities Exchange. New shareholders would own about 33% of the firm.

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