Royal Mail shares close up 38%
Shares in Royal Mail have closed 37.9% up at 455p after a feverish first day of trading on the stock market.
Royal Mail shares close at 455p after first day trading
Shares in Royal Mail have closed 37.9% up at 455p after a feverish first day of trading on the stock market.
Shares in the privatised postal service opened at 330p and jumped as high as 459p in early conditional dealings, which took place ahead of a formal launch on Tuesday.
The sharp rise has led to claims the 500-year-old company was undervalued, though the Government has defended its entry valuation as level with the rest of Europe.
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Value doubts as Royal Mail posts big share rise
A roaring first day's trading in Royal Mail shares has seen Government accused of undervaluing the company before its stock market launch.
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Royal Mail shares to be priced at 330p on debut
Royal Mail shares will be priced at 330p when it makes its stock market debut, valuing the group at £3.3 billion, the Government announced.