THE government has named four co-lead managers and two co-managers for the planned initial public offering of Medibank Private, estimated to be around $4 billion, Finance Minister Mathias Cormann said in a statement.
The co-lead managers of the IPO are Bell Potter Securities, Commonwealth Bank of Australia, Morgans Financial and UBS Wealth Management Australia, and the two co-managers are Evans and Partners and Ord Minnett. They will all be responsible for marketing Medibank shares to retail investors.
These selected managers will start preparation work now, aiming for a listing for Medibank in the 2014-15 financial year, Mr. Cormann said.
The structure of the offering is yet to be determined, but brokers said the government would like to see wide participation from retail investors by pricing the stock “fairly”, Data Room reported last week.
Joint lead managers Deutsche, Goldman Sachs and Macquarie held the first round of the roadshow last month, taking Medibank management to meet investors in Melbourne, Sydney and overseas.
