Royal Mail IPO: ministers to increase amount of public shares

From the Guardian:

royalmailThe government will bow to a mounting outcry and ensure the public do not lose out to banks, hedge funds and other financial speculators in the £3bn selloff of Royal Mail shares.

The Guardian understands that ministers are making plans to increase amount of Royal Mail shares available to the public at the expense of those set aside for banks, following overwhelming demand in the biggest privatisation since the sale of the railways in the 1990s.

Michael Fallon, the business minister in charge of the flotation, said he would do all he could to ensure “smaller investors get their fair share”, ahead of Tuesday’s midnight deadline to buy stock.

Read more: Royal Mail IPO: ministers to increase amount of public shares | UK news | The Guardian.