Medibank IPO: government no longer a dumb seller

As someone who can only dream about having bought shares of Commonwealth Bank two decades ago at a price of around $5 in tranche one of its privatisation, I wonder what the government must have been thinking to let such a valuable asset go in its entirety at such a cheap price. Ditto for CSL. CSL was floated at $2.30 per share (the equivalent of 77 cents today, following a three for one share split in 2007) with a market capitalisation of $300m. It has been one of the best performing stocks on the market and still has plenty left in...

As someone who can only dream about having bought shares of Commonwealth Bank two decades ago at a price of around $5 in tranche one of its privatisation, I wonder what the government must have been thinking to let such a valuable asset go in its entirety at such a cheap price.

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