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LibertyOne to List on the Nasdaq

Australian online media group LibertyOne Ltd Thursday announced plans to list on the Nasdaq by the end of the year.

The company expects to raise AU$50 million and AU$70 million through the offering.

Its stock will continue to be traded on the Australian Stock Index (ASX).

LibertyOne, which owns half of the joint venture for Excite Australia, intends to use the capital for company expansion.

The company's strategy is to import proven Internet brands and acquire the rights to for regional development. LibertyOne's most recent endeavor was a deal to bring uBid to Australia, New Zealand and nine other Asia Pacific countries.