Government to sell remaining 14% stake in Royal Mail
Westminster will let go of its remaining stake in Royal Mail through a sale to professional investors.
FTSE 100
8,060.61
15:45 15/11/24
n/a
n/a
FTSE 350
4,453.56
15:45 15/11/24
n/a
n/a
FTSE All-Share
4,411.85
15:45 15/11/24
n/a
n/a
Industrial Transportation
4,480.07
15:44 15/11/24
-0.46%
-20.63
International Distribution Services
347.60p
15:45 15/11/24
1.05%
3.60p
After the close of trading the government said it would begin a so-called accelerated book build immediately.
At Monday’s closing price of 470.3p its 14% slice of the 500-year old postal operator was valued at £660m.
The decision caps off a two-year long privatisation process marked by allegations that the state sold too cheap.
Postal workers received 11% of the company as a part of the privatisation.