Royal Mail Share Price To Be Revealed

The Royal Mail share price and details of the allocation policy will be announced after the London stock market closes at 4.30pm.

Vince Cable, the Business Secretary, said there had been more than 700,000 applications for shares in one of the biggest privatisations in decades.

Tens of thousands are understood to have applied within the 48 hours prior to Tuesday's deadline, encouraged by speculation that shares could soar in the aftermath of its historic flotation.

Around 150,000 Royal Mail staff will receive about £2,200 of free shares, although they will have to hold onto them for up to five years to avoid triggering a tax liability.

Insiders believe the Government will give investors who applied for the minimum £750 of shares their full entitlement, but would scale back the allocation to those who ordered between £750 and £10,000.

Sky News also revealed earlier this week that there had been more than £30bn of orders by institutional investors for the available shares.

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