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AccessMyLibrary    Browse    A    AsiaPulse News    DEC-07    AUSTRALIA'S CROWN LTD & CONSOLIDATED MEDIA HOLDINGS DEBUT ON ASX.

AUSTRALIA'S CROWN LTD & CONSOLIDATED MEDIA HOLDINGS DEBUT ON ASX.

Publication: AsiaPulse News

Publication Date: 03-DEC-07
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COPYRIGHT 2007 Asia Pulse Pty Ltd

MELBOURNE, Dec 3 Asia Pulse - Shares in Crown Ltd (ASX:CWN), the new gaming company spun out of James Packer's Publishing and Broadcasting Ltd (ASX:PBL), surged today as the stock debuted on the stock exchange, giving investors a paper profit of about A$334 million (US$295.95 million).

PBL's gaming assets were hived off into Crown Ltd, and the media assets were demerged into Consolidated Media Holdings Ltd (CMH)(ASX:CMJ) last month.

PBL shareholders received one share in each of the new companies and A$3.00 cash for each...

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