Mon, 9 June
25.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Australian federal government getting ready for largest privatization since 1997

YEREVAN, October 20. / ARKA /. The Australian federal government could reap over $5 billion from the privatisation of Medibank Private, according to its prospectus, vestifinance.ru reported.

At the indicative price range, the indicative market capitalisation of Medibank Private would be between $4.269bn and $5.508bn, placing it among the top 100 companies on the ASX.
Analysts had estimated the sale would raise at least $4 billion.

The prospectus predicts a pro-forma net profit of $258.2 million in fiscal 2015, with a full-franked dividend of 4.9c per share eyed for the seven months to June 30.

The offer of shares will open on October 28, and the public will have until mid-November to apply for shares.

The expected first day of trading on the ASX on a conditional and deferred settlement basis is November 25, while trading on a normal settlement basis is set to begin on December 5.

The floating of Australia’s largest private health insurer is the most significant privatisation since the $4.6 billion sale of Queensland rail freight company QR National in 2010.

There are no limits on foreign ownership of Medibank, meaning it could end up majority foreign owned, with individual shareholdings limited to 15 per cent.

spot_img

POPULAR

Dollar and ruble exchange rates against Armenian dram rose, while euro fell

The average market exchange rate of the US dollar to the Armenian dram, as of April 2, 2025, rose by 0.06 points compared to April 1, reaching 391.16 drams.

US dollar slightly down  against dram

The average market exchange rate of the U.S. dollar to the Armenian dram on May 7, 2025, decreased by 0.18 points compared to May 6 and amounted to 389.28 drams.

Converse Bank Joins the Asian Development Bank’s Green Finance Commitment

Converse Bank announces its participation in the Asian Development Bank’s (ADB) technical assistance program “Advancing Green Finance for Sustainable Development.”

Euro exchange rate increases by 0.87 points to 433.28 AMD

The average market exchange rate of the U.S. dollar to the Armenian dram on April 10, 2025, decreased by 0.7 points compared to April 9 and amounted to AMD 391.08.

US dollar exchange rate unchanged, euro and ruble rise

The average market exchange rate of the U.S. dollar to the Armenian dram on March 7, 2025, remained at 394.58 drams, unchanged compared to March 6.

LATEST NEWS

spot_imgspot_imgspot_img