Forbes media group to list shares, raises $400 million
Washington (AFP) - Forbes, the media group known for its long-running business magazine, said Thursday it would become a publicly traded company after securing $400 million in financing. Forbes Global Media Holdings Inc. will become a listed company on the New York Stock Exchange under a deal with a special purpose acquisition company (SPAC) called Magnum Opus, sponsored by the private equity firm L2 Capital. The media group was sold in 2014 to Asia-based investment group Integrated Asset Management Limited, founded by Tak Cheung Yam. Forbes magazine was launched in 1917 by Scottish immigrant ...