Medibank Private is expected to list on the Australian Stock Exchange in December 2014, according to a statement released by Finance Minister Mathias Cormann’s office on Friday afternoon.
The Government will proceed with the sale of Medibank Private through an Initial Public Offering in late October, with pre-registration for the IPO beginning in late September.
The Coalition expects to lodge the Medibank Private Share Offer prospectus with ASIC in late October, but the Minister did not give a specific date and it appears the Coalition is still wary of a jittery market.
The minister declined to comment on a value however observers estimate the sale could to be worth $4 billion.
The government said proceeds from the sale will be re-invested into infrastructure through the Government’s Asset Recycling Initiative.
The sale follows calls earlier in the year from ACCC chairman, Rod Sims, who said if the government wants become a more productive economy it would need to sell its some key assets such as Medibank Private.
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