Royal Mail: Value Climbs As Dealing Starts

Royal Mail's value continued to grow when full dealing began on the London Stock Exchange on Tuesday morning.

Investors - lured by the promise of healthy dividends - sought out shares with the price rising more than 3% in early trading when the stock became available to the wider market following its conditional launch.

In the first day of dealing for many of the 690,000 small investors who bought stock the shares opened at 478p - almost 45% above their privatisation price - before climbing further to 490p in the first hour.

Price correct at 08:35 BST

That made them almost 50% more valuable than the Government's price tag last week and gave Royal Mail a value of £4.9bn.

That compares with the 330p per share price they were sold for on Thursday, which valued the group at £3.3bn, meaning small investors who were allocated shares worth £750 originally are today sitting on paper profits of more than £360.

Only institutional investors such as pension funds and those individuals who ordered stock through a broker offering conditional trade were able to sell before Tuesday.

The start of full trading meant people who bought through the Government's official website or by post could cash in for the first time.

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