MPL - Medibank Private
Small prints in Medibank invitation - why only US Securities Act?
I too, like many others, received an invitation to pre-register for the share offer. The words in small print got my attention and I'm just wondering why US securities act etc was emphasized? I mean, why it didn't mention other markets at all?
I too, like many others, received an invitation to pre-register for the share offer. The words in small print got my attention and I'm just wondering why US securities act etc was emphasized? I mean, why it didn't mention other markets at all?
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Re: Small prints in Medibank invitation - why only US Securities Act?
I think it is because if offered to US investors, they would have to comply with US regulations that would add a considerable cost to the whole exercise. The US is mentioned by way of being excluded only.
I too, like many others, received an invitation to pre-register for the share offer. The words in small print got my attention and I'm just wondering why US securities act etc was emphasized? I mean, why it didn't mention other markets at all?
I think it is because if offered to US investors, they would have to comply with US regulations that would add a considerable cost to the whole exercise. The US is mentioned by way of being excluded only.
Out Too Soon
My real name is King Julian ;)
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Re: Medibank Private IPO
Once upon a time an IPO like this would have 100s of posts in a thread on ASF. Is it just that the govt is playing its card so close to its chest that there is no information to go on or is ASF a dead duck? (Still waiting for my prospectus) :fan
Once upon a time an IPO like this would have 100s of posts in a thread on ASF. Is it just that the govt is playing its card so close to its chest that there is no information to go on or is ASF a dead duck?
(Still waiting for my prospectus) :fan
Out Too Soon
My real name is King Julian ;)
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Re: Medibank Private IPO
https://www.medibankprivateshareoffer.com.au/document/#p=9&c=0&v=1 Can read the Prospectus online here- Page 6 is very enlightening! :aliena:
https://www.medibankprivateshareoffer.com.au/document/#p=9&c=0&v=1 Can read the Prospectus online here- Page 6 is very enlightening! :aliena:
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OK, I posted this on the beginners lounge, why not here?.
I want answers.
OK, I am brand new in here and hope I don't ask too many dumb questions. I am only here because of GOOGLE, so at least it is not my fault.
I am 74 and retired, and not had any shares since the mid 1980s up in Kalgoorlie. My wife and I would like to have a dabble in the Medibank thing, but need some guidance.
So, can somebody tell me what I have to do with regards to registering with a share trader, and how to get shares online, as being in Carnarvon I am 1000 Kms from the city. You will not offend me if you use kindergarten language as, I want to get it right. I am thinking of buying $1,000 worth to start with, and when they increase by 50% sell 50%. If that is a dumb plan please tell me as I am open to suggestions. I have Netbank and am fully familiar with all that money transfer stuff.
GO.
I want answers.
OK, I am brand new in here and hope I don't ask too many dumb questions. I am only here because of GOOGLE, so at least it is not my fault.
I am 74 and retired, and not had any shares since the mid 1980s up in Kalgoorlie. My wife and I would like to have a dabble in the Medibank thing, but need some guidance.
So, can somebody tell me what I have to do with regards to registering with a share trader, and how to get shares online, as being in Carnarvon I am 1000 Kms from the city. You will not offend me if you use kindergarten language as, I want to get it right. I am thinking of buying $1,000 worth to start with, and when they increase by 50% sell 50%. If that is a dumb plan please tell me as I am open to suggestions. I have Netbank and am fully familiar with all that money transfer stuff.
GO.
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Re: OK, I posted this on the beginners lounge, why not here?.
Here is Ok, but the beginner's lounge is better.
Here is Ok, but the beginner's lounge is better.
galumay
learner
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Re: OK, I posted this on the beginners lounge, why not here?.
Given that you are already a sprightly 74, i reckon by the time Medicare shares increase by 50% you will be dead!
Really, at your age leaping into the share market with $1000 is crazy, buy yourself something nice with the money and enjoy it, you deserve it.
Given that you are already a sprightly 74, i reckon by the time Medicare shares increase by 50% you will be dead!
Really, at your age leaping into the share market with $1000 is crazy, buy yourself something nice with the money and enjoy it, you deserve it.
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Re: OK, I posted this on the beginners lounge, why not here?.
Hi and welcome...
I believe you register your interest through the prospectus which is available here:
https://www.medibankprivateshareoffer.com.au/
You will be automatically entered into the pool of the other millions of people looking to get a chunk of the share offer. Sometime before the float, you will be allocated a number of shares (if there is a lot of demand you may not get your full allocation of $1000). These shares will then be yours.
Where registering comes in... that's only when you want to sell the shares. Up until that point, you don't need to do anything. At that point you need to sign up with a broker (e.g. Commsec) and register the shares you already own with them. Then you can sell them on market. A simple way to do this is to one day walk into your local Commonwealth Bank branch with all your documentation and tell them you want to sell your shares. They can walk you through the setup of your Commsec account and show you how to register your share holding.
Tried to keep the explanation simple. I hope it has helped. Good luck.
Hi and welcome...
I believe you register your interest through the prospectus which is available here:
https://www.medibankprivateshareoffer.com.au/
You will be automatically entered into the pool of the other millions of people looking to get a chunk of the share offer. Sometime before the float, you will be allocated a number of shares (if there is a lot of demand you may not get your full allocation of $1000). These shares will then be yours.
Where registering comes in... that's only when you want to sell the shares. Up until that point, you don't need to do anything. At that point you need to sign up with a broker (e.g. Commsec) and register the shares you already own with them. Then you can sell them on market. A simple way to do this is to one day walk into your local Commonwealth Bank branch with all your documentation and tell them you want to sell your shares. They can walk you through the setup of your Commsec account and show you how to register your share holding.
Tried to keep the explanation simple. I hope it has helped. Good luck.
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Re: OK, I posted this on the beginners lounge, why not here?.
You don't need to sign up with a broker for an IPO. (the prospectus details this) Any shares you are issued will be under the Issuer Sponsored register. Link for more info
When you go to sell is when you need a broker to place the transaction into the share market. A full service broker can use the Issuer sponsored number to process the transaction. (but you will pay a high brokerage charge for the convenience), ring any full service broker - they will be happy for the ticket (likely cost you in the $75-$100 range) Link
A discount broker is much cheaper ($19-$29) BUT you will need to spend some time in filling out paperwork, providing certified identification, providing bank details etc. They don't want to make it hard for you to give them money however so will make it easy as possible on you. Use this link above to also find a discount broker.
Ok I've now had a chance to go through the prospectus. Since this is the biggest privatisation since TLS I'm getting a lot of queries about it. Any IPO will have red flags in it, the question is whether the positives outweigh the negatives. I'd be interested if anyone else see's some red flags. (Not that I'm focussing on the negatives, I'm just talking about these aspects to use the forum as a sounding board).
1) Asset allocation post listing in the investment portfolio will change from a 82%-12% Conservative-growth to 75%-25%. (Growth is direct shares and managed funds) This will increase risk slightly, but has the potential to create a larger income stream from that activity. It's a double edged sword however, increasing allocation towards growth assets is most effective in a bullish market, not one that is consolidating. There's little I can see about the track record of this area to justify the increased allocation towards this activity.
2) Much of current Management activity has been on cost control exercises over the last couple of years, yet upon listing much of this hard work will be undone when the management see a significant increase in their remunerations. George Savvides will triple his current remuneration to 4.99m. The Board will also receive increases in remuneration.
3) The token politician on the board is Anna Bligh, who was diagnosed in June last year with Non-Hodgkins Lymphoma. Whilst I wish Anna good health, the reality is that she will likely not be a long-term member of the Board, and board instability (particularly the token political board member) is never a good look. It might be my cynicism talking but it smacks a little "jobs for the girls". Thanks very much, sorry about your ill-health, don't forget your big pile of scrip you got in the IPO.
4) Lack of listed peers. A lot of commentary seems to be out comparing to NHF, Medibank is being priced at about 17 times it's earnings, when bank shares are are sitting around the 13 times and a larger dividend yield and Mkt Cap to boot. It's important to look not just at the nearest but find the bigger picture. 17 times is saying that some of those gains that could be made, by aggressive cost cutting, increased efficiencies are already priced in.
5) Institutions know the above. They will play games to get the Insto price book build as low as possible. The advantage to retail clients is if there is sufficient demand to force the bookbuild price above $2. (the govt have capped at this level), meaning insto's will have to pay a higher price to get the allocation they want. Pre-registrations does not equal - guaranteed applicants. only one in six policy holders took up the pre-registration.
Cheers
Sir O
You don't need to sign up with a broker for an IPO. (the prospectus details this) Any shares you are issued will be under the Issuer Sponsored register. Link for more info
When you go to sell is when you need a broker to place the transaction into the share market. A full service broker can use the Issuer sponsored number to process the transaction. (but you will pay a high brokerage charge for the convenience), ring any full service broker - they will be happy for the ticket (likely cost you in the $75-$100 range) Link
A discount broker is much cheaper ($19-$29) BUT you will need to spend some time in filling out paperwork, providing certified identification, providing bank details etc. They don't want to make it hard for you to give them money however so will make it easy as possible on you. Use this link above to also find a discount broker.
Ok I've now had a chance to go through the prospectus. Since this is the biggest privatisation since TLS I'm getting a lot of queries about it. Any IPO will have red flags in it, the question is whether the positives outweigh the negatives. I'd be interested if anyone else see's some red flags. (Not that I'm focussing on the negatives, I'm just talking about these aspects to use the forum as a sounding board).
1) Asset allocation post listing in the investment portfolio will change from a 82%-12% Conservative-growth to 75%-25%. (Growth is direct shares and managed funds) This will increase risk slightly, but has the potential to create a larger income stream from that activity. It's a double edged sword however, increasing allocation towards growth assets is most effective in a bullish market, not one that is consolidating. There's little I can see about the track record of this area to justify the increased allocation towards this activity.
2) Much of current Management activity has been on cost control exercises over the last couple of years, yet upon listing much of this hard work will be undone when the management see a significant increase in their remunerations. George Savvides will triple his current remuneration to 4.99m. The Board will also receive increases in remuneration.
3) The token politician on the board is Anna Bligh, who was diagnosed in June last year with Non-Hodgkins Lymphoma. Whilst I wish Anna good health, the reality is that she will likely not be a long-term member of the Board, and board instability (particularly the token political board member) is never a good look. It might be my cynicism talking but it smacks a little "jobs for the girls". Thanks very much, sorry about your ill-health, don't forget your big pile of scrip you got in the IPO.
4) Lack of listed peers. A lot of commentary seems to be out comparing to NHF, Medibank is being priced at about 17 times it's earnings, when bank shares are are sitting around the 13 times and a larger dividend yield and Mkt Cap to boot. It's important to look not just at the nearest but find the bigger picture. 17 times is saying that some of those gains that could be made, by aggressive cost cutting, increased efficiencies are already priced in.
5) Institutions know the above. They will play games to get the Insto price book build as low as possible. The advantage to retail clients is if there is sufficient demand to force the bookbuild price above $2. (the govt have capped at this level), meaning insto's will have to pay a higher price to get the allocation they want. Pre-registrations does not equal - guaranteed applicants. only one in six policy holders took up the pre-registration.
Cheers
Sir O
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Re: Medibank Private IPO
Anyone want to share their estimated intrinsic value of Medibank Private.
For me I calculated somewhere between $1.44 and $1.61.
Anyone want to share their estimated intrinsic value of Medibank Private.
For me I calculated somewhere between $1.44 and $1.61.
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Re: OK, I posted this on the beginners lounge, why not here?.
Yeh, you are probably right there galumay, it could be a rush of blood and maybe I should be looking at that Tinney down the road. Some of the info I have read so far is likely to frighten me off anyway.
Cheers.
Yeh, you are probably right there galumay, it could be a rush of blood and maybe I should be looking at that Tinney down the road. Some of the info I have read so far is likely to frighten me off anyway.
Cheers.
Re: Medibank Private IPO
just a quick question if that's ok
my dad wants me to use his Medibank membership to buy some IPO shares so that I can have some more shares. But I realise the shares will be under his name and mine will be under my own name.
Any easy way to transfer his shares to me?
Or maybe the only way to do that is through the open market?
I'm asking cos my dad is old and not too well atm and doesn't want to go through the whole process of opening a new account with a broker etc etc, unless he has to.
any help would be appreciated
just a quick question if that's ok
my dad wants me to use his Medibank membership to buy some IPO shares so that I can have some more shares. But I realise the shares will be under his name and mine will be under my own name.
Any easy way to transfer his shares to me?
Or maybe the only way to do that is through the open market?
I'm asking cos my dad is old and not too well atm and doesn't want to go through the whole process of opening a new account with a broker etc etc, unless he has to.
any help would be appreciated
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Re: Medibank Private IPO
Yes, you can do this through an off-market transfer - http://www.linkmarketservices.com.a...rms/change-details/OMT001_002_Interactive.pdf
It will cost you $55.
Yes, you can do this through an off-market transfer - http://www.linkmarketservices.com.a...rms/change-details/OMT001_002_Interactive.pdf
It will cost you $55.
Re: Medibank Private IPO
Hi all, just wanted to check... we can only apply for the shares starting 28/10/14?
Are there any advantages in applying on the 1st day? Better chances of getting your allocation? Since you have to make payment on the day of application, I was thinking of applying only in the last couple of days so that my funds will still be earning interest in my bank account.
Hi all, just wanted to check... we can only apply for the shares starting 28/10/14?
Are there any advantages in applying on the 1st day? Better chances of getting your allocation? Since you have to make payment on the day of application, I was thinking of applying only in the last couple of days so that my funds will still be earning interest in my bank account.
Re: Medibank Private IPO
no advantage, as it not subject to close early.
they close on the schedule date and then they work out who get what depend on if you are a policyholder, pre-register or non-pre register
no advantage, as it not subject to close early.
they close on the schedule date and then they work out who get what depend on if you are a policyholder, pre-register or non-pre register
