MUM and dad investors can start applying to buy shares in the federal government’s sale of Medibank Private.
THE retail element of the share offer of up to $5.5 billion in the health insurer opens on Tuesday and ends on Friday, November 14.
The indicative price for the Medibank shares has been set at $1.55 to $2 a share. Small investors will not pay more than $2 even if the final price paid by institutional investors is higher. Finance Minister Mathias Cormann said there was no compelling reason for the government to continue to own Medibank Private, a commercial business operating in a well-functioning and competitive health insurance market. The sale will provide the company with full commercial independence and access to capital markets, while removing the current conflict where the government is both the regulator of the private health insurance market and owner of the largest market participant. RETAIL OFFER APPLICATIONS CAN BE MADE IN THREE WAYS: * Apply and pay online at medibankprivateshareoffer.com.au * Apply by post using the paper application form and reply paid envelope in the prospectus * Apply through your broker.