The full pricing and allocation details for Australian public applicants has been indicated in a Government Press Release. 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.
Transaction confirmation statements will be sent to successful applicants from Thursday, 4 December 2014.
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 which will no doubt annoy the Broking community even further after a huge scale back in their offer. I cannot help feel there will be a huge amount of shareholders with mediocre holdings and headaches for their accountants and advisers trying to track applications, allocations, scale backs and refunds of excess funds.
Medibank Private will list on the ASX at 12.00pm AEDT on Tuesday, 25 November 2014. Its ASX code will be MPL.
| Final price per share paid by institutional investors | $2.15 |
| Discount per share on final insto price for retail investors | 15 cents or 7% |
| Final price per share paid by retail investors1 | $2.00 |
| Proceeds | |
| Total proceeds returned to Commonwealth | $5.679B |
| Allocation of shares as a % of total shares | |
| Retail allocation | 60.0% |
| Total institutional allocation | 40.0% |
| Domestic institutional allocation | 22.9% |
| Offshore institutional allocation | 17.1% |
| Details of Retail Offer | |
| Total number of individual Applications | Approx. 440,000 |
| Dollar amount allocated to Retail Offer | $3.311 billion |
| Average shareholding for Retail Offer | Approx. $5,850 |
| Policyholder Applicants’ allocation2 | 33.2% |
| General Public Applicants’ allocation2 | 66.7% |
Medibank Private Share Offer – How Much Will You Get
General Public Offer
Applicants who applied under the General Public Offer have received allocations as follows:
| General Public Offer Applicants who did not pre-register who applied for | Receive* |
| $2,000 | The full amount you have applied for |
| $2,001 to $7,000 | $2,000 + 75.00% of your Application within this band |
| $7,001 to $14,000 | $5,750 + 20.00% of your Application within this band |
| Over $14,000 | $7,150 + 5.00% of your Application within this band |
| General Public Offer Applicants who pre-registered who applied for | Receive* |
| $2,000 to $2,300 | The full amount you have applied for |
| $2,301 to $7,000 | $2,300 + 86.25% of your Application within this band |
| $7,001 to $14,000 | $6,353.75 + 23.00% of your Application within this band |
| Over $14,000 | $7,963.75 + 5.75% of your Application within this band |
Policyholder Offer
Applicants who applied under the Policyholder Offer have received allocations as follows:
| Policyholder Offer Applicants who did not pre-register who applied for | Receive* |
| $2,000 to $2,300 | The full amount you have applied for |
| $2,301 to $7,000 | $2,300 + 86.25% of your Application within this band |
| $7,001 to $14,000 | $6,353.75 + 23.00% of your Application within this band |
| Over $14,000 | $7,963.75 + 5.75% of your Application within this band |
| Policyholder Offer Applicants who pre-registered who applied for | Receive* |
| $2,000 to $2,600 | The full amount you have applied for |
| $2,601 to $7,000 | $2,600 + 97.50% of your Application within this band |
| $7,001 to $14,000 | $6,890 + 26.00% of your Application within this band |
| Over $14,000 | $8,710 + 6.50% of your Application within this band |
For example, a General Public Offer Applicant who did not pre-register who applied for $10,000 will receive:
| Application band | Receive* |
| $2,000 | $2,000 (100% of $2,000) |
| $2,001 to $7,000 | $3,750 (75% of $5,000) |
| $7,001 to $14,000 | $600 (20% of $3,000) |
| Over $14,000 | n/a |
| Total | $6,350 |
* The final allocation of Shares will be subject to rounding and application of the Final Price to any allocation above $250,000.
Are you looking for an advisor that will keep you up to date and provide guidance and tips like in this blog? then why now contact me at our Castle Hill or Windsor office in Northwest Sydney to arrange a one on one consultation. Just click the Schedule Now button up on the left to find the appointment options.
Liam Shorte B.Bus SSA™ AFP
SMSF Specialist Advisor™ & Financial Planner
Tel: 02 8853 6833, Mobile: 0413 936 299
liam@verante.com.au
PO Box 6002 BHBC, Baulkham Hills NSW 2153
Liam Shorte is a partner in VERANTE Financial Planning, Corporate Authorised Representative of Genesys Wealth Advisers Limited, Licence No 232686, Genesys Wealth Advisers Limited ABN 20 060 778 216 • AFSL No.232686
Important information :
The information in this article is provided for illustrative purposes only and does not take into consideration your personal circumstances. You are encouraged to seek financial advice suitable to your circumstances to avoid a decision that is not appropriate. Any reference to your actual circumstances is coincidental. Genesys and its representatives receive fees and brokerage from the provision of financial advice or placement of financial products.
