Posted: Sun., Aug. 20, 2006, 11:43am PT

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Global sets up IPO

World Brief

Global Broadcast News, parent of CNN-IBN, hopes to mop up more than 1.05 billion rupees ($21 million) through an initial public offering on the Indian stock market.

The IPO will offer shares of 25¢.

The GBN shares will be listed on both the Bombay and the National stock exchanges.

Global Broadcast News is a joint venture of TV-18, a publicly listed company; GBN editor in chief Rajdeep Sardesai and promoter Sameer Manchanda; and TV-18 CEO Haresh Chawla.

TV-18 produces and broadcasts CNBC's Indian affil through a joint venture with CNBC Asia.

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