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clock Created with Sketch. 29/08/14
20:17
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Originally posted by nani
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Medibank IPO to go ahead in 2014 The government will proceed with a planned initial public offering of Medibank Private in 2014, with a listing expected in December. The government intends to offer shares, estimated to be worth around $4 billion, to retail investors as well as domestic and international institutions. All Australians will be able to pre-register for the share offer towards the end of September, Finance Minister Mathias Cormann said in a statement on Friday afternoon. A prospectus detailing the offer is to be lodged in late October. The government has not made any comment on the size, number of shares or potential price of the Medibank share sale, but industry estimates have put the size at around $4bn, making the largest IPO in recent years. Healthscope's $2.26bn raising in July was the biggest float to hit the ASX since the $4bn listing of rail freight company Aurizon -- then called QR National -- in 2010. 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. It is believed to have attracted strong interest from investors, underpinned by the defensive nature of the healthcare sector and demographic dynamics in Australia. The government's appointment of more managers to market Medibank shares to retail investors has reinforced a view it will seek wide participation from “mum and dad” investors. 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.
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Hmm.. Taking pre-registration late September and lodging prospectus late October.. Looks like they really are trying to gauge the market demand.. If there is a demand for it, they'll jack up the price.. Not too happy with this approach to be honest.
