The newspaper reports that broadcaster, which has continued to spend heavily on acquiring sports rights in recent months, said that the latest allotment of shares was a 'tidying-up exercise' rather than a formal fund-raising exercise.
Private equity house Doughty Hanson, which owns TV3, was allotted the large tranche of shares - taking an additional 768,000 for €1.7 million. Davy Stockbrokers, Goldman Sachs and Echostar Media Holdings also invested fresh cash in the company. Shareholders including Balderton Capital and John Magnier, which did not participate in the latest share allotment and have had their stakes slightly diluted by the share issue.
Setanta is in the process of building up subscription numbers in order to cover the acquisition costs of sports rights.
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