Royal Mail worth up to £3.3bn as float plans released

The Royal Mail is to float next month, with the company valued at up to £3.3bn, the government has said.

The Treasury said this morning that Royal Mail would list on the London Stock Exchange in October, with shares priced between 260p and 330p. If shares achieve the upper limit, it gives the company a value of £3.3bn. The government intends to sell between 40.1% and 52.2% of the Royal Mail under its privatisation proposal, it added. The privatisation has captured investors' attention, with a chance to own part of Royal Mail proving very attractive. Richard Hunter, head of equities at Hargreaves Lansdown. said there had already been significant interest from private investors regis...