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MPL, MEDIBANK PRIVATE LIMITED
fraz2
post Posted: Nov 23 2014, 01:19 PM
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In Reply To: nipper's post @ Nov 23 2014, 12:27 PM

a quick google search reveals


QUOTE
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.

The Retail Offer scaling policy also delivers preferential allocations to eligible Medibank Private and ahm policyholders, applicants who pre-registered and Medibank Private employees, as was outlined in the prospectus.

The Government has also exercised its right to claw back a further 20 per cent of the shares previously allocated to the Broker Firm Offer.

The pricing and allocation details for Australian public applicants will be published in major newspapers on Tuesday, 25 November 2014. Applicants will be able to get confirmation of their individual allocation from Tuesday, 25 November 2014 by visiting medibankprivateshareoffer.com.au or calling 1800 998 778. Applicants will need to have their Application Reference Number available.


full article here

http://www.4-traders.com/news/Department-o...lion--19438146/



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nipper
post Posted: Nov 23 2014, 12:27 PM
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Sunday: Professional investors have found out they will be paying $2.15 for Medibank Private shares in the initial public offering of the country's biggest private health insurer on Tuesday.

Finance Minister Mathias Cormann announced the final price and share allocations for the float of Medibank Private at a special news conference in Perth, saying the share offer would raise $5.679 billion.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Nov 21 2014, 02:08 PM
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QUOTE
The federal government will announce the final price and share allocations for the float of Medibank Private on Sunday, inking the deal just ahead of the health insurer's listing on Tuesday.

Finance Minister Mathias Cormann is calling a media conference on Sunday morning in Perth, according to an emailed statement.
Media reports yesterday said fund managers had been told that the bookbuild was well covered at $2.15 per share for institutions, following a three-day process.

But some brokers said the government would probably price the institutional offer at $2.10, leaving some room to sustain support in aftermarket performance.

Demand had been overwhelming from retail investors, who have been guaranteed that they will pay no more than $2 a share.

Market sources believe retail investors are likely to receive about 60 per cent of the company, while a further 20 per cent would be offered to global institutions and the remainder to Australian institutions.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
balance
post Posted: Nov 20 2014, 08:24 PM
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In Reply To: veeone's post @ Nov 20 2014, 01:56 PM

QUOTE
Pre registering supposedly qualified you for 15% more maybe the same for members


So you get 115 shares instead of 100. tongue.gif



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veeone
post Posted: Nov 20 2014, 01:56 PM
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In Reply To: Barra's post @ Nov 20 2014, 01:41 PM

Barra think we will all get big refunds from what i have seen reported.
Pre registering supposedly qualified you for 15% more maybe the same for members......V1


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Barra
post Posted: Nov 20 2014, 01:41 PM
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In Reply To: nipper's post @ Nov 20 2014, 09:44 AM

That bodes well Nipper,

There should be a bit of jockeying for more shares in the listing as many index tracking funds won't have their fill.
Has anyone heard anything about how many shares they'll be getting under the public offer- particularly if a medicare health fund member?
I applied for $20k and they took the lot but I'm still wondering how many they'll actually dish out to health fund members.

 

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nipper
post Posted: Nov 20 2014, 09:44 AM
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In Reply To: veeone's post @ Nov 19 2014, 05:00 PM

Medibank Private’s institutional bookbuild is “well covered with high quality demand at $2.15”, according to an email sent to clients on Thursday by the federal government



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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veeone
post Posted: Nov 19 2014, 05:00 PM
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In Reply To: balance's post @ Nov 18 2014, 11:45 AM

QUOTE
Pre-listing shadow markets were already trading Medibank shares at $2.15 last week," Citigroup told clients on Monday."


Trading something that doesn't exist already!!!! Unbelievable.......

If they get called on what they haven't got maybe it will be a rush to get shares when it opens officially. V1


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balance
post Posted: Nov 18 2014, 11:45 AM
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Investors swamp MPL float.

Some key extracts:

"The federal government has confirmed demand by retail shareholders for the $4.3 billion-plus Medibank Private float ballooned to more than $4.8 billion, as investors await pricing, stock allocation and next week's sharemarket debut."

"However, the estimated demand is eclipsed by demand from stockbrokers on behalf of clients, which came in at $12 billion. The broker firm offer was scaled back to $1.5 billion."

""Pre-listing shadow markets were already trading Medibank shares at $2.15 last week," Citigroup told clients on Monday."



--------------------
Day Trader: Lowest form of life in the known universe.
Shorter: Can limbo under a day trader.
Investor: Salt of the Earth.Sits to the right of God (Warren Buffet)
Share prices are only ever manipulated down.
Paper losses are not really losses.
Chat site posters always know better & know more than anyone about anything.
I'm 29.
The cheque is in the mail.

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nipper
post Posted: Nov 12 2014, 03:26 PM
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Pressure is on institutions to bid big for Medibank

Read more: http://www.smh.com.au/business/pressure-is...l#ixzz3IpSdSzr0

QUOTE
A sentence buried deep in the Medibank Private prospectus is exercising the minds of fund managers as they prepare for a three day-long bookbuild auction next week that will determine how much the health insurer is sold for. After examining it, many are concluding they need to bid early for shares, and bid high.

Medibank Private's retail share offer closes at 11.59pm on Friday. The institutional bookbuild begins at 7am next Tuesday and runs until noon on Thursday.

The float's indicative price range of between $1.55 to $2 a share values the health insurer between 16.5 and 21.3 times forecast earnings for the year to June 2015, which is not cheap, but more than 750,000 Australians put themselves in line for preferential allocations of shares by registering their interest.

Stockbrokers also lodged bids for $12 billion worth of shares to distribute to their clients, more than twice the expected value of the entire float.

Advertisement The brokers have been scaled back to $1.5 billion initially, and will almost certainly be cut further to $1.2 billion after the retail offer and institutional bookbuild are completed: the government has reserved the right to "claw back" up to 20 per cent of the broker-firm allocation for redistribution to retail and institutional investors if demand from them is strong.

The extra pressure on institutions comes from the revelation in Medibank's float prospectus that standard bidding practice during next week's bookbuild is going to be punished.

Bookbuilds are off-market auctions, in effect. Institutions place a series of indicative bids for shares with the float managers, and increase their offers as the bookbuild progresses if demand is strong.

The process aims at discovering the highest price at which all the shares can be sold, and institutions that have lodged bids below the final price are not allocated shares. Institutions that have lodged bids at or above the final price receive shares at the final price.

Those that have bid above the final price can also be rewarded for their aggression with an additional allotment of shares - and in the Medibank float this possibility has been turned into a certainty.

The float prospectus states that the government will grant preferential allocations of shares to bids lodged in the first 24 hours of the bookbuild that "demonstrate price leadership, to the extent that it is at or above the ultimate final price, and [are] not subsequently reduced in price or volume."

It states "for the avoidance of doubt" that bids made at the final price rather than above it will not qualify for the preferential allocation at the final price, and says that the size of the preferential allotments will be determined by the government at its sole discretion.

Questions have also been asked about a two-tier commission structure in the float that sees the three joint lead managers, Deutsche, Goldman and Macquarie ,get a selling fee of 0.6 per cent for shares sold to overseas institutions, and 0.3 per cent for shares sold to local institutions.

Fears that this will result in local institutions being disadvantaged seem to me to be misplaced. It is the government that decides where the shares will be allocated, not the joint lead managers. The government's net share sale receipts will be higher if it allocates more shares to local institutions, and pays less sales commission.

Local institutions know they need to at least hit the final price in the bookbuild and hold it, to be in a position to be allocated shares however, and the government's explicit promise in the prospectus that it will give preferential allocations to early, aggressive bidders is going to be influential. It will attract higher bids earlier, and will tend to push the final price up...




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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