APN News & Media, in which Independent News Media holds a 39 per cent stake, said it would seek to raise as much as A$99 million (€55.7 million) to cut debt and strengthen its balance sheet.
The company made the announcement in a regulatory filing.
The news follows the announcement of a standstill pact between Independent News Media (INM) and its bondholders as it seeks to refinance the €200 million bond that matured yesterday.
