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Ukraine’s UMH Raises $45 Million Via IPO For Online Media Goal

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Ukrainian multi-media group United Media Holding (UMH) has floated 15 percent of the company in Frankfurt for $45 million, valuing it at $300 million, and plans to use the proceeds to invest in new media companies in Russia and the Ukraine. So far, UMH claims five percent of the Ukrainian online audience and operates football.ua, journalism portal High Way, news portals kp.ua and focus.in.ua, business news site dengi-ua.com and Kiev guide timeout.ua. It’s aiming to become the country’s third-placed portal operator. Release and Quintura.