Royal Mail shares up as trading begins

Shares in Royal Mail rose by more than a third when they began trading on the stock market today, increasing the value of the business by more than £1bn.

The sharp rise of 36 per cent from the 330p offer price to as much as 450p meant 690,000 ordinary investors who have each bought around £750-worth of stock gained more than £270 each.

The Government announced yesterday that 95 per cent of all applicants for the heavily-oversubscribed offer had picked up stock.

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