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Medibank Private IPO Update

Article By Adam Hurwood | | Financial Planning
Following on from our initial email regarding the Medibank Private IPO on October 10, Medibank has since released the prospectus with details of the offer. If you pre-registered you should have received a copy of the prospectus (via email) on Monday afternoon October 20, or if you did not pre-register, a copy can be downloaded here. Please note you did not need to register in order to be eligible to apply and you can still participate in the offer to purchase the Medibank shares. The offer opens from October 28 and closes Friday November 14; a minimum investment amount has been set at $2,000.

The offer issued by Medibank does not provide a fixed share price. Rather, as part of the application you will need to nominate a price, expected to be between $1.55 and $2.00, which you are prepared to pay for the shares. The final offer price will then be determined after the cut-off date when Medibank has received all the offers. For retail/individual investors, Medibank has also noted that it will cap the maximum share price for the IPO at $2.00.

Currently we are reviewing the prospectus information and gauging the initial level of interest for the offer. We will contact you again in early November with sufficient time prior to the closing offer date, and will detail our review of the offer and an appropriate price level; this will also include instructions for how to participate in the offer, including the use of any Application Reference Numbers for those who pre-registered.

If you have any queries regarding the offer in the meantime, please contact a member of our Financial Planning Team.

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