Prognosis is for a healthy profit from the Medibank float

The success of the Medibank float has whetted the government's appetite for the privatisation of more state assets.

Finance Minister Mathias Cormann yesterday provided an overwhelming case for more privatisations, but while the government has had a clear success with the Medibank sale, it will be a long time before investors reap similar rewards.

The $5.7 billion sale price, at $2.15 a share, works out at 23 times forecast earnings, which is a whopping 63 per cent premium to the market and will take some time to be validated.

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