Britain's Royal Mail valued at up to £3.3bn ahead of privatisation

Friday 27 September 2013 07.54
Unconditional dealings in Royal Mail stock will start on 15 October
Unconditional dealings in Royal Mail stock will start on 15 October

Britain’s Royal Mail will be valued at up to £3.3 billion when its controversial privatisation takes place next month, the country’s Government has said.

Shares are expected to be priced at between 260p and 330p, giving a market valuation in the range of £2.6 billion and £3.3 billion.

Unconditional dealings in the stock will start on 15 October, which is the day before voting closes in a ballot by the Communication Workers Union over whether to back a campaign of industrial action on the sale.

Any strike action would start a week later.

Around 150,000 eligible staff will be handed 10% of shares in the largest free stock offer of any privatisation in Britain over the past 30 years.

This is equivalent to around £2,000 each at the mid-point of today's offer price range.