The Telstra T1 share offer was the Australian government’s 1997 sale of one- third of Telstra, structured as an instalment offer rather than a single full- payment purchase. For retail investors, the initial instalment was $1.95 per share, with a later instalment of $1.35, bringing the total to $3.30 per share.

What it was

T1 refers to the first Telstra privatization offering, completed in September 1997, when 33.3% of Telstra was sold.

Payment structure

The offer used instalment receipts , meaning buyers paid part of the share price up front and the rest later.

  • Retail investors: $1.95 first instalment, then $1.35 later.
  • Institutional investors: $2.00 first instalment, then $1.40 later.

In plain English

If someone bought T1 Telstra shares at the retail offer, they were committing to the total share price in two stages, not one. That structure was common in the Telstra privatization program and is why T1 is often mentioned separately from later Telstra offerings.

TL;DR: T1 was Telstra’s first privatization offer in 1997, and the retail price was $1.95 upfront plus $1.35 later, for a total of $3.30 per share.