Investors rush to sell off Royal Mail shares as price tops 470p

Shares in newly-privatised Royal Mail yesterday closed at 471.36p, up 42% on Friday’s flotation price. 

The surge in price means that investors who got the maximum £749.10 allocation have already made a profit of £320 each.

Unconditional trading of Royal Mail shares begins today as the postal service completes its London Stock Exchange listing.

The government’s official website is expected to see a surge in traffic as investors rush to cash in on stocks. Last week, a surge in demand made servers at brokers Hargreaves Lansdown crash.

However, a government spokesman told City A.M. that the “government is happy with [its own] website’s capabilities”.

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