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17 Nov 2017 (TheAge,SMH) -Strong listing: Domain’s ASX trading debut beats expectations with $2.2b valuation

(17 November 2017, The Age, p11, Elizabeth Knight)

‘The spin-out of digital real estate company Domain from parent Fairfax Media has surpassed expectations, immediately adding value to shareholders in both companies. Fairfax shares were trading at $1.06 earlier this week before adjusting for the Domain separation, which saw them fall around 30 per cent on Thursday. However, each Fairfax shareholder now has one Domain share for every 10 shares in Fairfax. That combined holding was worth $1.13 on Thursday morning, thanks to a strong debut for Domain, which was trading around $3.90 a share, giving it a market capitalisation of more than $2.2 billion. It drifted slightly lower to finish the day at $3.69 while Fairfax finished at 73 cents giving a combined value of $1.10.’

Read more at SMH.com.au

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