Australia Raises A$5.7 Billion as Abbott Sells Medibank IPO (original) (raw)

Australia raised A$5.68 billion ($4.9 billion) selling shares of Medibank Private Ltd. in the country’s second-largest initial public offering.

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 yesterday. 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.