The complete details of the federal government’s sale of Medibank Private will be revealed in its prospectus to be launched on Monday.
Mum and dad investors will get a closer look at the federal government’s $4 billion float of Medibank Private when the sale is launched on Monday.
Finance Minister Mathias Cormann will unveil the prospectus for the floating of Australia’s largest private health insurer on the share market – the most significant privatisation since the sale of Queensland rail freight company QR National.
The document will reveal how much shares in the company will cost, and exactly how much the sale will reap for the government.
Analysts currently estimate the sale will raise at least $4 billion.
The offer of shares will open five days after the prospectus is released, and the public will have until mid-November to apply for shares.
A little more than three quarters of a million people pre-registered for the prospectus, giving them preferential treatment in the allocation of shares.
The government says the privatisation will remove its conflicted role as both the largest provider and the market regulator, and will also free up funds to reinvest in major infrastructure.