The Minister for Finance Senator Mathias Cormann has announced that the Medibank Private Share Offer has been completed raising $5.679 billion in proceeds to be re-invested in job creating infrastructure.
Senator Cormann explained that the Government has set a final price for Medibank Private Shares for institutional investors of $2.15 per share, while the final price for retail investors has been set at the retail price cap of $2.00 per share.
“Retail investors have been allocated 60 per cent of the shares on issue. Eligible Medibank Private and ahm policyholders have been allocated 33.2 per cent of shares allocated under the Retail Offer excluding the Broker Firm Offer.” Senator Cormann commented “A progressive scaling policy has been applied to the General Public Offer, Policyholder Offer and Employee Offer to ensure all applicants have been allocated shares, with larger applications being scaled back more than smaller applications”
Senator Corman explained that more than half of General Public Offer, Policyholder Offer and Employee Offer applicants will receive at least 80 per cent of their application, while more than three quarters of these applicants will receive more than half of their application. Senator Corman went on to point out that no retail investor in the General Public Offer, Policyholder Offer or Employee Offer has been allocated less than the minimum application size of $2,000.