Medibank jumps 7% on debut

Australia’s largest private health insurer, Medibank Private, started the day with the Government its sole owner and finished it with around 400,000 shareholders.The company ended its first day of trading on the ASX at $2.14 per share – a 7% premium to the $2.00 paid by the stampede of retail investors who subscribed to the offer. What’s more, the privitisation raised $5.7bn for the Government – second only to Telstra’s $14bn listing in 1997.With happy investors, happy taxpayers, and champagne flowing at a few investment banks, there’s only one thing left for Medibank to do: deliver on its operational promises.Medibank...

Australia’s largest private health insurer, Medibank Private, started the day with the Government its sole owner and finished it with around 400,000 shareholders.

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