The demand of shares in an Australian telecom giant,Telstra has witnessed a late rush and this has pressed the government to increase the size of share offering in the company. Initially the government was planning to sell A $ 8 billion worth of its holding in the company but with an increased demand being witnessed from the retail investors, now the current demand for the shares is A$9.2 billion.
This is being regarded as the largest public share offer in Australia since the year 1999. In that particular year the government had raised around A $16 billion. This offer is being regarded as T3 as it follows the earlier offer of the government during 1997 and 1999.
After the sell off the government plans to put the remaining shares in an investment fund for covering public service pension payments
