The Abbott government has confirmed it will sell its first major public asset - Medibank Private.
Australians will soon be able to buy shares in Medibank Private through an initial public offering, with Finance Minister Mathias Cormann confirming the sale of the multi-billion dollar asset.
Senator Cormann would not be drawn on how much money he hoped the government would make from the sale, which has been speculated as netting about $4 billion.
''Subject to market conditions, Medibank Private will be sold through an initial public offering in the 2014-15 financial year,'' Senator Cormann said on Wednesday.
- The Age