NIB : Successful completion of $60 million institutional placement

21 September 2017

Successful completion of $60 million institutional placement

nib holdings limited (ASX: NHF) today announced the successful completion of its fully underwritten $60 million institutional placement (Placement).

The Placement received strong demand from both existing institutional shareholders and new investors, and was significantly oversubscribed. The final issue price for the Placement is $5.65 per share, representing a discount of 2.1% to the closing price on 19 September 2017 of $5.77. Approximately 10.6 million new ordinary shares will be issued under the Placement.

nib's Managing Director, Mark Fitzgibbon, said "We are delighted with the support shown by our institutional shareholders for the acquisition of GU Health and the Placement, and to welcome a number of high quality new investors to our register. We look forward to completing the GU Health transaction and delivering on our plans to grow our presence in the corporate group market."

Shares to be issued under the institutional placement are expected to be settled on 25 September 2017, with the issue and quotation of the new securities expected to occur on 26 September 2017. The new shares will rank equally with existing shares on issue.

As announced on 20 September 2017, nib intends to undertake a share purchase plan for eligible shareholders (including retail shareholders), with further details expected to be announced to ASX on or about 27 September 2017.

The trading halt in nib shares will be lifted today.

Matthew Neat

Head of Corporate Affairs & Investor Relations

Tel: +61 (0)2 4914 1777 or 0411 700 006 (+61 411 700 006)

Email: m.neat@nib.com.au