SHAREMARKET FLOATS – AUSTRALIA

Medibank sale to triple George Savvides’s pay with big bonuses

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Original article by Patrick Durkin
The Australian Financial Review – Page: 6 : 21-Oct-14

Medibank Private MD George Savvides will receive a huge pay rise when the company floats on the Australian stock exchange on 25 November 2014. His remuneration will triple from $A1.2 million to $A3.99 million. Savvides’s contribution to the IPO will deliver a bonus of $A750,000 for him, which some analysts believe is excessive

CORPORATES
MEDIBANK PRIVATE LIMITED, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, OWNERSHIP MATTERS PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, AURIZON HOLDINGS LIMITED – ASX AZJ, NIB HOLDINGS LIMITED – ASX NHF, RAMSAY HEALTH CARE LIMITED – ASX RHC, SIGMA PHARMACEUTICALS LIMITED – ASX SIP

Silicon Valley start-up surges on ASX debut

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Original article by Sally Rose
The Australian Financial Review – Page: 25 & 32 : 16-Oct-14

Shares in online recruitment firm 1-Page closed at $A0.34 on 15 October 2014, capping a $A8.5m Australian sharemarket float for the US-based group. The stock was issued at $A0.20 apiece and listed at $A0.345. Amanda Moyes of ASX Limited says the sharemarket operator would like to see more US technology firms list on the local bourse. Australia’s R&D tax concessions regime contributed to 1-Page’s decision to list in Australia

CORPORATES
1-PAGE LIMITED – ASX 1PG, ASX LIMITED – ASX ASX, FOSTER STOCKBROKING PTY LTD, KTM CAPITAL PTY LTD, CYGNET CAPITAL PTY LTD, NASDAQ, SAN FRANCISCO 49ERS, FRANCE TELECOM SA

Regis Healthcare float finds favour

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Original article by Nick Lenaghan, James Thomson, Jessica Gardner
The Australian Financial Review – Page: 15 & 20 : 8-Oct-14

Regis Healthcare listed on the Australian sharemarket on 7 October 2014. The aged care operator raised $A486 million in its IPO. The company was founded by Bryan Dorman and Ian Roberts in 1991. It has grown from two facilities to 45, and is now positioned for further growth. The stock was issued at $A3.65 and closed at $A4.02. Dorman and Roberts each kept a stake of 27.3 per cent, together worth $A658 million after the first day of trade

CORPORATES
REGIS HEALTHCARE LIMITED – ASX REG, STANDARD AND POOR’S ASX 200 INDEX, HEALTHSCOPE LIMITED – ASX HSO, VIRTUS HEALTH LIMITED – ASX VRT, JAPARA HEALTHCARE LIMITED – ASX JHC, MEDIBANK PRIVATE LIMITED, MACQUARIE CAPITAL PTY LTD, RETIREMENT CARE AUSTRALIA

Rival hits at Medibank for no share giveaway

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Original article by Jessica Gardner
The Australian Financial Review – Page: 5 : 3-Oct-14

Westfund COO Phillip Berner believes that Medibank Private customers’ loyalty should have been rewarded in the health fund’s IPO. Medibank policyholders who pre-register for the IPO may receive a priority allocation of shares, but Berner says they should have been given free shares or some other form of compensation. He adds that some Medibank customers who are unhappy with their treatment in the privatisation may opt to switch funds

CORPORATES
MEDIBANK PRIVATE LIMITED, WESTFUND HEALTH INSURANCE, ROY MORGAN RESEARCH LIMITED, QR NATIONAL LIMITED

Medibank may deliver $5.7b at sale

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Original article by Jessica Gardner
The Australian Financial Review – Page: 4 : 30-Sep-14

Analysts have previously valued Medibank Private at between $A4bn and $A4.5bn. Goldman Sachs has suggested that the health insurer could potentially be worth between $A4.1bn and $A5.7bn, while Deutsche Bank values it at $A4.2bn to $A5.3bn. Watermark Funds Management’s Omkar Joshi says the Australian Government is likely to place a lower valuation on the stock in the hope that it will rise on the first day of trading on the sharemarket

CORPORATES
MEDIBANK PRIVATE LIMITED, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, DEUTSCHE BANK AG, WATERMARK FUNDS MANAGEMENT PTY LTD, AUSTRALIA. DEPT OF FINANCE, MACQUARIE CAPITAL PTY LTD, NIB HOLDINGS LIMITED – ASX NHF, STANDARD AND POOR’S ASX 200 INDEX, RAMSAY HEALTH CARE LIMITED – ASX RHC, HEALTHSCOPE LIMITED – ASX HSO

Medibank flags cost cuts after float

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Original article by Jessica Gardner, Georgia Wilkins
The Australian Financial Review – Page: 1 & 6 : 29-Sep-14

Retail investors can pre-register for the upcoming sharemarket float of Medibank Private, which is expected to be Australia’s largest IPO since QR National in 2010. The Federal Government has indicated that Medibank customers who pre-register will be given priority when shares are allocated in the IPO, although they will not be given any free shares in the health insurer. Meanwhile, Medibank CEO George Savvides says the health fund will seek to reduce costs following the IPO

CORPORATES
MEDIBANK PRIVATE LIMITED, AUSTRALIA. DEPT OF FINANCE, AMP LIMITED – ASX AMP, NIB HOLDINGS LIMITED – ASX NHF, NRMA LIMITED, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, AURIZON HOLDINGS LIMITED – ASX AZJ, TELSTRA CORPORATION LIMITED – ASX TLS, MORNINGSTAR PTY LTD, COMMUNITY AND PUBLIC SECTOR UNION

Skin cancer drug developer plans to list

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Original article by Sally Rose
The Australian Financial Review – Page: 19 : 29-Sep-14

Melbourne-based Ascend Biopharmaceuticals will offer its shares at $A0.35 in an IPO that aims to raise between $A9m and $A11m. Proceeds of the float will be used to finance clinical trials of drugs that are intended to treat skin cancer and breast cancer. Ascend shares are slated to list on the Australian sharemarket on 14 November 2014

CORPORATES
ASCEND BIOPHARMACEUTICALS LIMITED, ONYVAX, ALCHEMIA LIMITED – ASX ACL, AMRAD CORP LIMITED, F HOFFMAN-LA ROCHE LIMITED, F HOFFMAN-LA ROCHE AG, IMMATICS, LODGE CORPORATE PTY LTD, TRANSGENE

Scales tipped in favour of $400m Huon IPO

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Original article by Bridget Carter
The Australian – Page: 18 : 29-Sep-14

Huon Aquaculture, which has a share of 40% of the salmon market in Australia, is staging an IPO worth more than $A400m. Simon Marais, MD of fund management firm Allan Gray Australia, notes that with Tassal commanding 50% the industry is a virtual duopoly, and this will underpin good earnings prospects for Huon. However there are some doubts by others, based on the long maturation period of three years for salmon stocks. Also planning a float is jewellery company Lovisa

CORPORATES
TASSAL GROUP LIMITED – ASX TGR, HUON AQUACULTURE COMPANY PTY LTD, LOVISA PTY LTD, ALLAN GRAY AUSTRALIA PTY LTD, PETUNA AQUACULTURE PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, CIMB SECURITIES INTERNATIONAL (AUSTRALIA) PTY LTD, MORGANS FINANCIAL LIMITED

Medibank Private’s $4bn float is given a clean bill of health

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Original article by Michael Bennet
The Australian – Page: 21 : 26-Sep-14

Morningstar is upbeat about Australia’s private health insurance sector, and believes that Medibank Private has scope to increase its margins and profits as a listed company. The independent research firm says investors should pre-register for the Medibank prospectus. Brokers will begin marketing the $A4bn-plus IPO to fund managers in late September 2014

CORPORATES
MEDIBANK PRIVATE LIMITED, MORNINGSTAR PTY LTD, BUPA AUSTRALIA PTY LTD, NIB HOLDINGS LIMITED – ASX NHF, HOSPITAL BENEFIT FUND OF WA INCORPORATED, HBF HEALTHFUNDS INCORPORATED, MACQUARIE GROUP LIMITED – ASX MQG, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, DEUTSCHE BANK AG

Rush for exits belies optimism

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Original article by Vesna Poljak, Max Mason
The Australian Financial Review – Page: 17 & 24 : 17-Sep-14

Fund managers are cautious about the strong activity in the Australian sharemarket. In the third quarter of 2014, IPOs have reached a record $US2.4 billion. Private equity firms are also exiting as escrow periods expire. Debt capital market activity reached $US99 billion between 1 January and 15 September, while merger and acquisition deals are worth $US8.5 billion. Fund managers said that private equity firms are taking the opportunity to exit in a strong market, but investors may be becoming complacent

CORPORATES
UNITED STATES. FEDERAL RESERVE BOARD, HEALTHSCOPE LIMITED – ASX HSO, VEDA GROUP LIMITED – ASX VED, DICK SMITH HOLDINGS LIMITED – ASX DSH, ANCHORAGE CAPITAL PARTNERS PTY LTD, DEALOGIC (AUSTRALIA) PTY LTD, INVESTORS MUTUAL LIMITED, AUSBIL DEXIA LIMITED, WAVESTONE CAPITAL PTY LTD, MYER HOLDINGS LIMITED – ASX MYR, GOLDMAN SACHS AUSTRALIA PTY LTD