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Medibank IPO raises A$5.68b

Published Mon, Nov 24, 2014 · 09:50 PM

Melbourne

AUSTRALIA raised A$5.68 billion (S$6.4 billion) selling shares of Medibank Private Ltd in the country's second-largest initial public offering (IPO).

The government sold about 2.7 billion shares in the nation's biggest health insurer at A$2.15 apiece for institutional investors and A$2 for individuals, Finance Minister Mathias Cormann said on a conference call on Sunday. The sale brought the total amount raised by Australian IPOs this year to A$15.9 billion, the highest since at least 1997, data compiled by Bloomberg show.

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