Medibank sale
Does anyone know when people will be advised what number of shares they have been allocated?
I see where they will be traded from Tuesday so surely people should know by then. Some may want to sell them
Finance Minister Mathias Cormann has sold Medibank Private for a higher-than-expected $5.7 billion
Medibank shares have been sold to institutional investors at $2.15 each, opening price, which is higher than the government's initial indicative range of $1.55 to $2.00, is also 7.5 per cent higher than the $2 a share that mum and dad investors have paid.
Read more: http://www.smh.com.au/business/pressure-on-medibank-private-management-team-after-asset-sale-20141123-11s3uc.html#ixzz3K1PYLXMq
I bought a few too ... but still have not heard anything but from all reports the share are expected to rise when they go onto market at noon today.
You can get your share allocation at this link
https://www.medibankprivateshareoffer.com.au/allotment_start/
I got less than half of what I applied for :(
The float did roughly as expected. As at 3.00PM, $2.20 & 336 million have been sold
I found out my allocation by going to the web site. Also was an advertisement in today's paper saying that refunds would be done on, I think, it was the 4th December. Nice little earner for Medibank having our money up until then but of course we will not get any interest on "our" money.;)
I believe you can still sell on the ASX as long as you know your allocation as settlement is not for a while yet. Need to be absolutely sure of what you actually have. Would hate to sell shares you did not have LOL.
Abby, I received around 3/4 of what I applied for.
Radish, short selling is illegal in Australia, so you have to have absolute proof of your allocation before any broker will sell your Medibank shares. If you bought throug the Medibank float, your broker will check your allocation independantly. Alternately, if you bought an allocation through a designated broker such as Potter's, they have the allocation on hand.
Apparently there is no dividend till September 2015
In a way I am pleased that I did not gget my full allocation but not returning the money immediately is a bit rude ..crook as well
abby
ohn McDonald from Port Macquarie on the NSW mid-north coast bought into the Medibank float to show his 17-year-old son how to make a quick buck, joining the throng to what's been touted as the biggest float of a public asset since Telstra.
But he was one of a number of small investors who were aggrieved that they could not cash in on "stag" first-day profits in the same way as institutional banks and shareholders that had used a broker.
"It's not really even-stevens. I would think most would be thinking they might sell on Tuesday," he said.
Read more: http://www.smh.com.au/business/markets/anger-and-frustration-as-retail-investors-struggle-to-trade-medibank-20141125-11tm4d.html#ixzz3K4vjfvkG
Geoff
I was sent an email around mid-day so could have sold what I was allocated - my grievance is that I did not get the full allocation and hence they are holding the balance of my money - Radish read somewhere we would not be refunded till December 4 and they've had it since the 17th.
In all fairness Abby, I believe that a high proportion af all private purchases was for more than the eventual allocation, So I think that processing the refunds will go through in a remarkably short time.
Radish says she read it will be on the 4th of December ???
I ought none as I think they are totally overvalued .. The price was held up by the funds that track the market so they had to buy ..
I gave then a miss too Pete. I see very little value in buying any share with a P/E of well over 30. However, it is a perfect tax loss investment! Much better than an old house.
I'll most probably keep mine untill they go ex divident which makes it jest under a year.
You are right .. it is a lot easier than a house.
I don't believe in making a loss ...
We decided not to buy any, in spite of the fact that we belong to Medibank Private for health insurance. We think Medibank Private offers poor returns for its contributors and we are looking at switching health funds. We don't understand the share market or want anything to do with it. Prefer to let the super experts deal with how to invest our money with the proviso that our money is invested ethically.
Then you will loose money .. You should look after your own money ...
There is more to life than money.
Well if you have a disregard for your own money , then you will end up on the government pension.,,
I would suggest Robiconda that your money will in all probability be invested in Medibank if you have others looking after your finances.
Before you switch to another fund make sure you are comparing apples with apples! I was going to switch but decided to stay with Medibank.
I would suggest Robiconda that your money will in all probability be invested in Medibank if you have others looking after your finances.
Not necessarily. The important thing is to ensure that your shares are "blue chip." That way your money is much safer.
Quote Robi "There is more to life than money"
Outright Blasphemy. That is contempt or lack of reverence toward something considered sacred by righties.
Bull year: America’s buoyant share prices
America’s stockmarket closed fractionally lower yesterday, but could still bestow a Thanksgiving feast on investors today. If the S&P 500 index rises by just 0.12% and notches another all-time high, it will be the 47th of 2014, equalling the tally of classic bull years such as 1987 and 1998, but not 1997, when 77 records were set. That is remarkable for an index that in mid-October was barely up on the year. The market continues to be bolstered by low yields on cash and government bonds, and by the strength of corporate profits, which are near a post-war high as a share of GDP. That has helped investors shrug off geopolitical worries, such as the conflicts in Ukraine and Syria. The likeliest threats to the market are the eventual raising of interest rates by the Federal Reserve or a sharp slowing of the American economy; but with inflation at 1.7% and GDP growing at an annualised 3.9% in the third quarter, neither looks imminent.
I am left wondering what medibank sale has got to do with the stock market in USA but I suppose you could tie it in somehow if you have a fertile imagination.
I see the government raked in some $500million from the sale - wonder if that will effect spending/cuts or just go into the "future fund"?