Phoenix Satellite TV, the Hong Kong-based satellite and cable broadcaster part-owned by News Corp, says it intends raising HK$785.2 million ($100.8 million) in its upcoming IPO, offering stock at HK$1.08, at the lower end of an expected range. 727 million new shares will be sold with the cash used to add two channels to the three it already offers locally and throughout mainland China. The new stock will represent some 15 percent of Phoenix’s expanded share capital, and begin trading June 30.