Independent News & Media says just over 97% of shareholders have subscribed for new shares under the company's recent rights issue. The issue was part of a restructuring deal agreed with its bondholders.
INM said 97.2% of the new shares had been taken up, while the remaining shares had been placed in the market.
Just over one million of the 1.8 million new shares have been paid for in cash, raising €52m, while the rest will go to bondholders.
INM chief executive Gavin O'Reilly said the company was pleased with the take-up. He said the rights issue, as well as the company's programme to sell off assets, had cut its net debt by around €350m this year.
'With this new capital structure, the company looks forward to focusing solely on its operational performance and driving operating profit growth as economic conditions recover,' he said.
