Austar: Strong Showing on Initial Offering.

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Australia's largest regional pay-TV provider, Austar United Communications, made a strong debut on the Australian Stock Exchange this summer. The stock closed at AU$5.57 (US$3.45) up from Austar's initial offering of AU$4.70 (US$2.91).

Austar secured the lead in the Australian pay-TV industry by wooing rural subscribers. The two other leading competitors, Foxtel and OptusVision, focus on urban areas.

The successful offering will enable Austar's chief stockholder UnitedGlobalCom to proceed with...

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