The latest update from The Australian..
http://www.theaustralian.com.au/bus...102823585?nk=b71bf1d3ac78c8ab273cc305ba3623d7
But global institutions such as BlackRock, Fidelity, Wellington Management and London-based Newton are expected to be given a great deal of attention from Medibank advisers, given the advisory fees they will receive for locking in offshore investors are understood to be almost three times as much as they would receive for securing locals.
Among the joint lead managers are Goldman Sachs, Macquarie and Deutsche, while Lazard is advising the government.
Retail investors are allowed to bid first for the shares, offered at a range of $1.55 to $2 each.
Brokers will be allocated about 60 per cent of the stock.
It is believed that retail shareholders are likely to wind up with about half the allocated shares on offer, with the remainder owned by local and global institutional investors.
Investor feedback on Medibank has been largely positive, but some sources are arguing institutions are nervous about speaking out on the deal for fear it could jeopardise their chances of winning share allocations.
