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In November 1997, the Federal Government sold off one third of its holdings of Telstra in the form of a public float - one of the biggest in Australian history. The public offering to retail investors, in the form of installment receipts, was AU$1.95. On the first day it listed, it opened at around $2.60. Currently sitting at around $3.90. Not too bad after only five months. Where to from here for the Aussie Telco?
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