Medibank Private listed on the Australian Securities Exchange (ASX) after 38 years as a Government Business Enterprise.
Medibank Private shares debuted on the ASX, under the listing code MPL, at a price of $2.22 per share giving the company a market value of $6.114 billion on listing.
Medibank Private Managing Director, Mr George Savvides, said it was a historic day for the company and welcomed the company’s 440,000 new shareholders.
"I would like to thank our new shareholders for investing in Medibank and reassure you that the management team and the board will work hard to build value for shareholders over the medium and long term," Mr Savvides said.
Mr Savvides said he was pleased that Medibank and ahm policyholders have been allocated a third of shares allocated under the Retail Offer.
"I’m pleased that it’s now possible for our customers to now own a share in their health fund and a share in our future. I’d like to reassure our many customers, that we remain more committed to them than ever.
"Our core purpose, and the reason we exist, is to deliver better health for our members and customers, both through providing quality and affordable private health insurance cover and associated healthcare services – this hasn’t changed.
"By delivering better health, we’re also building a strong and sustainable business that will deliver attractive long-term returns to our shareholders."
"There is a tremendous energy throughout the organisation, and I am proud to be leading the team as we take this important step into our future as a major Australian pubic company," he said.
Medibank Private shares can now be traded on the ASX. Retail investors in Medibank Private will receive a welcome pack and share allocation statements from Thursday 4 December.