Wednesday, July 23, 2014





Royal Mail soars on stock market debut


October 11. 2013 4:36AM
Associated Press

Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) Shares in Royal Mail have soared on their stock market debut, though small shareholders will have to wait until next week before they can reap any windfall.


An hour after the start of trading in London, Royal Mail's share price was trading 34 percent higher at 443 pence. The shares were allocated to shareholders, large and small, at 330 pence.


Big financial institutions, such as pension funds, are the main traders Friday. Smaller shareholders will get a chance to buy and sell next week.


Friday's demand will likely bolster criticism that the company was undervalued by the British government.


The government will raise 1.72 billion pounds ($2.75 billion) from the sale of a majority stake which puts Royal Mail under private control for the first time in its 500-year history.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds