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B4U plans to raise $5-10 m ahead of its proposed IPO

12-December-2001
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B4U plans to raise $5-10 m ahead of its proposed IPO

B4U Television Network plans to raise $5-10 million for fresh acquisition of Hindi movies, ahead of its proposed initial public offering (IPO) in the middle of next year. It is also talking to several leading media companies, including Zee Telefilms, Star and Sony Entertainment Television to enter into various forms of strategic partnerships including a dilution in stake.

B4U’s global revenues are expected to be around $22 million in the current financial year. Out of which, India will account for 40 per cent of the revenues. The balance is expected to come from overseas. The company expects a loss of $6 million. But after amortisation of some expenses, the loss is expected to stabilise at $3 million.

According to the company sources, B4U Movies was the main revenue earner as it had a presence all over the world. After shifting from a general entertainment to a movie channel in India, revenues from B4U Movies has doubled.

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