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Ten Network Holdings Limited (ASX:TEN) has completed the institutional component of its renounceable equity raising.
The media company has raised gross proceeds of about $161 million.
In a effort to strengthen its balance sheet, refinance debt and invest in programming, Ten Network announced plans to raise $200 million last week.
The retail component of the Entitlement Offer is expected to raise about $39 million and will open on Friday, closing on June 29.
In the first half of the 2012 financial year,Ten reported a net profit of $20 million.
