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Canada's Postmedia files for public listing
March 16, 2011 / 2:15 AM / in 7 years

Canada's Postmedia files for public listing

* Public listing was condition of restructuring

* Chain bought last year by creditors led by Paul Godfrey

TORONTO, March 15 (Reuters) - Postmedia Network Canada Corp, the nation’s largest chain of newspapers, filed to go public on the Toronto Stock Exchange, complying with a pledge made almost a year ago.

Postmedia was created last July when creditors of the bankrupt newspaper unit of Canwest Global Communications Corp agreed to buy it for C$1.1 billion and undertake a complex restructuring.

The chain was bought by bondholders led by Paul Godfrey, the president of the National Post.

A condition of its rebirth was that the company, whose chain of newspapers include the National Post and Vancouver Sun, list its shares in Toronto within the year.

Postmedia did not provide further details of the listing other than to say it had filed a preliminary non-offering prospectus with Canadian regulatory authorities. ($1=$0.98 Canadian) (Reporting by Pav Jordan and Alastair Sharp; Editing by Vinu Pilakkott)

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