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Royal Mail shares begin full trading on stock market Royal Mail shares begin full trading on stock market
(35 minutes later)
Shares in Royal Mail have risen to 478p as full trading in the company began on the London Stock Exchange.Shares in Royal Mail have risen to 478p as full trading in the company began on the London Stock Exchange.
This is the first day that people who bought shares through the government's website have been able to trade.
Conditional trading in Royal Mail began on Friday for people who bought shares through a broker.Conditional trading in Royal Mail began on Friday for people who bought shares through a broker.
The government priced the shares at 330p each, but by the end of conditional trading on Monday, the price had jumped by about 40%.The government priced the shares at 330p each, but by the end of conditional trading on Monday, the price had jumped by about 40%.
The sharp jump in the company's share price has led to criticism that they were sold too cheaply.The sharp jump in the company's share price has led to criticism that they were sold too cheaply.
Private investors who applied for between £750 and £10,000 worth of shares received 227 shares, initially worth £749.10 at the 330p float price. Those who applied for more than £10,000 worth of shares received none.