Medibank Private offer - anyone in?

[QF WP]

Share market has been down recently. That's put a dampener.

September is always a negative month in the Australian stockmarket, as October generally is in USA. Reporting season is over, markets slide on no news.

I should check, but is it likely to be in any indexes where funds are going to have to go around buying shares to keep their portfolios aligned?

I would have thought that as the biggest player in the health insurance market, most funds would have to own a portion to balance their portfolio, and if oversubscribed, would have to buy after the float.

Index funds will need to look at whether they need to purchase - it will depend on their type of replication of the relevant indexes. For funds with full replication, they will be buying. For ones that partially replicate, they may not need to, depending on which stock will no longer be in the relevant index the funds track.

Other fund managers (depending on their style) will be assessing the relative merits of holding the stock in their portfolios (whether they be value or growth manager, etc). so many different investment styles and no clear indication whether they will hold at inception. They will have their analysts pulling apart the financial data in the Prospectuses and doing risk analyses. All in a days work for these guys

 

[QF WP]

A good article here as well:

Don't rush in to Medibank float

My broker told me I would probably get a higher allocation in the public float than through the firm stock through his brokerage.

 

[medhead]

Shame they don't take credit cards.

For those worried about adding the HIN, just transfer the issuer sponsored holding to your HIN later.

 

[cove]

Well they list today as MPL at noon if you live in SYD or MEL.

 

[Pushka]

I still don't know my allocation. Will be interesting to see.

 

[drron]

Several predictions that you will get ~ 10% of your request.

 

[cove]

Hexy price in this IPO !
$2 for retail and $2.15 for instos.
That insto price looks high but what would I know.

 

[Pushka]

Several predictions that you will get ~ 10% of your request.

Hmm. I'll sell then. I don't like poxy little parcels of shares in the super fund.

 

[medhead]

Several predictions that you will get ~ 10% of your request.

AFR quoted something like 80% of retail getting at least 50% of their request.

 

[Pushka]

AFR quoted something like 80% of retail getting at least 50% of their request.

I know companies don't like having small parcels of share owners due to servicing costs so I wonder if there's also a "minimum" allocation where people might get 100%.

 

[medhead]

I know companies don't like having small parcels of share owners due to servicing costs so I wonder if there's also a "minimum" allocation where people might get 100%.

I'd say they would be highly unlikely to give people less than a marketable parcel, ie less than $500 worth.

 

[a330j]

I didn't bid for many but received 96%, very small scaleback. You can see your allocation at https://www.medibankprivateshareoffer.com.au/residency/ provided you have your ARN

 

[blackcat20]

I got 100% :shock:

 

[medhead]

Here is the quote from the AFR from Matthias Cormann:

Scaling of the [retail] offer has been applied on a progressive basis with applicants for larger parts of the stock being scaled back to a greater extent than applications for smaller parcels

More than half of the general public offer, policyholder offer and employee offer applicants will receive at least 80 per cent of their application and more than three-quarters of these applicants will receive more than half of their application

I could be in trouble as I convinced SWMBO to put in a bigger bid on the expectation of being scaled back.

Edit: 99.6% of allocation received. :shock:

 

[Major]

I received about 40 %

 

[defurax]

I got 95%. Happy with that.

 

[Reggie]

SWMBO received a 45.5% allocation as a preregistered policy holder through a single application

 

[cove]

I can wait until I get home from California as I don't have the ARNs.

 

[Pushka]

I'm in the third band.

 

[Major]

I wouldn't mind some of the profits from the cash they have from the over subscription