Austria's Fashion TV goes public
Austrian-based television channel Fashion TV (FTV) announced Thursday it would go public this week with a listing on the Frankfurt stock exchange.
Fashion TV, set up in 1997 by the Polish businessman Michel Adam Lisowski and currently worth an estimated 250 million euros (330 million dollars), said in a statement it would list 20 percent of its shares -- or 5.3 million shares in all -- on the German exchange's open market from Friday.
The flotation is expected to raise around 50 million euros.
Fashion TV describes itself as the only global, 24-hour fashion and lifestyle broadcaster, reaching an estimated 350 million households worldwide.
© 2010 AFP