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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. |