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Medibank value could hit $6.3bn, as float demand pushes up price rangeTHE federal government has increased the indicative price range for the Medibank Private IPO, driven by strong demand from institutional investors. The indicative price range was initially set at $1.55 to $2.00 per share, but now has been increased to $2.00 to $2.30 each, Finance Minister Mathias Cormann said, amid the three-day book build.The increase values Medibank up to as much as $6.33 billion, based on $2.30 per share.“Very strong demand from domestic and offshore institutional investors has led the government to increase the indicative price range for the Medibank Private share offer,” Senator Cormann said.It is understood that at least 300 institutional investors are vying for shares in Medibank.The final price will be determined by the book build, which closes tomorrow.Retail investors have been guaranteed that they will not pay more than $2.00 per share.The government expects to announce the final price and the allocation of shares by next Tuesday.http://www.theaustralian.com.au/business/news/medibank-value-could-hit-63bn-as-float-demand-pushes-up-price-range/story-e6frg906-1227127918322?nk=d88e0cbe889f8c17dc8619259c939c54]
Medibank value could hit $6.3bn, as float demand pushes up price range
THE federal government has increased the indicative price range for the Medibank Private IPO, driven by strong demand from institutional investors.
The indicative price range was initially set at $1.55 to $2.00 per share, but now has been increased to $2.00 to $2.30 each, Finance Minister Mathias Cormann said, amid the three-day book build.
The increase values Medibank up to as much as $6.33 billion, based on $2.30 per share.
“Very strong demand from domestic and offshore institutional investors has led the government to increase the indicative price range for the Medibank Private share offer,” Senator Cormann said.
It is understood that at least 300 institutional investors are vying for shares in Medibank.
The final price will be determined by the book build, which closes tomorrow.
Retail investors have been guaranteed that they will not pay more than $2.00 per share.
The government expects to announce the final price and the allocation of shares by next Tuesday.
http://www.theaustralian.com.au/business/news/medibank-value-could-hit-63bn-as-float-demand-pushes-up-price-range/story-e6frg906-1227127918322?nk=d88e0cbe889f8c17dc8619259c939c54]
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