Senator the Hon. Mathias Cormann
Minister for Finance
Date: Monday, 17 November 2014
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
The Government is another step closer to successfully completing the Medibank Private Share Offer after concluding the Retail Offer last Friday.
The Retail Offer drew significant interest from Australian retail investors.
Processing of retail offer applications has yet to be finally completed, however it is estimated that total demand for the General Public Offer, Policyholder Offer and Employee Offer will exceed $4.8 billion.
This is in addition to the Broker Firm Offer, which resulted in $11.987 billion in binding bids from eligible Australian and New Zealand brokers on behalf of their retail clients.
The Broker Firm Offer was subsequently scaled back to $1.5 billion.
The Government retains the right to claw back up to a further 20 per cent of the shares allocated to the Broker Firm Offer, following the close of the Institutional Offer.
The Institutional Offer opens tomorrow and is scheduled to close on Thursday, 20 November 2014.
A retail price cap will ensure that retail investors will pay no more than $2.00 per share.1
No decisions will be made on the overall split of share allocations between the Retail and Institutional Offers, nor between domestic and offshore institutions, until the Share Offer has been completed.
The final price and the number of Medibank Private shares investors will receive, based on the allocation criteria, is expected to be announced by Tuesday, 25 November 2014.
Stephanie Rowan – 0455 069 184
The Retail Offer of the Medibank Private Share Offer is now closed. The Commonwealth will not accept any further Applications under the Retail Offer. This document does not constitute an offer to sell, or a solicitation of an offer to buy securities in the United States. The shares referred to in this document have not been, and will not be, registered under the U.S. Securities Act of 1933 (the "U.S. Securities Act") or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold in the United States absent registration under the U.S. Securities Act or an exemption from registration requirements.
 The Retail Price will only apply to the first $250,000 worth of shares (rounded down to the nearest share) allocated to applicants under the Retail Offer. If applicants are allocated shares above $250,000, they will pay the Final Price for those shares.