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| Version 2 | Version 3 |
|---|---|
| Royal Mail shares begin full trading on stock market | Royal Mail shares begin full trading on stock market |
| (about 3 hours later) | |
| Shares in Royal Mail have risen to 479.50p on the company's first day of full trading on the stock exchange. | |
| This is the first day that people who bought shares through the government's website have been able to trade. | 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. The sharp jump in the 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. | 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. |
| That means small investors are sitting on a paper profit of more than £300. | |
| However, some investors, who applied online or by post for the shares, have been unable to trade because they do not yet have a reference number needed to sell the stock. | |
| The Department of Business told the BBC it did not have information on what proportion of people have their numbers so far. | |
| The prospectus detailing the flotation process for Royal Mail said investors could have to wait until Thursday for their reference number if they applied for shares online, and up to a week if they applied by post. | |
| Strike ballot | |
| Business Secretary Vince Cable has insisted that the taxpayer has not been short-changed by the privatisation. | Business Secretary Vince Cable has insisted that the taxpayer has not been short-changed by the privatisation. |
| However, the privatisation of the 52.2% stake in the Royal Mail has sparked anger from trade unions, who have argued that customers will receive a worse service as a result. | |
| "The share price increase is making profits for wealthy private investors and faceless institutions - it's not bringing any money into Royal Mail," said Dave Ward, deputy general secretary of the Communication Workers Union. | |
| On Wednesday, the union, which represents the majority of Royal Mail workers, will reveal the outcome of a strike ballot by postal workers over pay and working conditions. |