The Medibank Private (ASX:MPL) frenzy continues with investors and institutions alike either boosting or cutting positions.
At 2.30pm AEDT Sydney the stock has been a public company for just two and a half hours, but has traded 310 million shares for a value of 684 million.
The most recent price of $2.20 delivers retail investors who purchased the shares at $2 a 10% stag profit, or in other words a gain on day one.
The current share price values the company at around $6.1 billion.
On issue Medibank will have 1,652,401,944 ordinary shares fully paid, sold at $2.00 per share and 1,101,601,296 ordinary shares fully paid, sold at $2.15 per share.
For a total of 2.754 million shares.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.