Health insurer NIB (ASX:NHF) has announced an equity raising of approximately $150M.

$135M will be fully underwritten equity placement with plans to raise a further $15M through a share purchase plan.

The proceeds from the equity raising will be used to fund its entry into Australia?s NDIS sector as a Plan Manager.

New shares will be offered at a floor price of $6.9 - an 8% discount to the last closing price.