Royal Mail shares to trade above £4 on retail demand - reports

Soaring demand from retail investors for Royal Mail shares has pushed the estimated opening share value above £4.00.

No other stock since the floating of lastminute.com, more than a decade ago, has seen such strong demand from private buyers, according to experts quoted by the Telegraph. Spread betting business IG Index has said the rush for the shares has created a frenzy in the "grey market" ahead of the final deadline for application, which is tonight. Retail investors are said to be betting the stock will begin trading as high as £4.03, some 70p above the government's top guide price. The initial private offering was originally priced between £2.60 and £3.30, and later revised to a range betw...