FXJ Fairfax Fpo

Fairfax Media Ltd. (FXJ.AU) said Monday it has set the price on the initial pubic offering of 34% of its Trade Me Group Ltd. at NZ$2.70 a share.

Fairfax Media will derive NZ$529.5 million from the sale, when combined with the Trade Me Group's NZ$166 million of debt, it said in a statement.

UBS New Zealand is underwriting the deal.

-By Cynthia Koons; Dow Jones Newswires; +61-2-8272-4691; cynthia.koons@dowjones.com

Fairfax Media (ASX:FXJ)
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Fairfax Media (ASX:FXJ)
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