London Stock Exchange welcomes Royal Mail to the Main Market

London Stock Exchange welcomes Royal Mail to the Main Market

Tuesday 15th October 2013

London Stock Exchange today welcomed Royal Mail plc to open its UK markets, marking the admission of its shares for unconditional trading following the Government’s sale of shares to institutional and retail investors. The shares were priced at 330p, valuing the company at £3.3 billion.

The privatisation of Royal Mail is an historic event. The Group’s origins date back nearly 500 years to the time of King Henry VIII. Today, Royal Mail is the leading provider of postal and delivery services in the UK, with significant operations in continental Europe. Its core business is the collection, sorting, transportation and delivery of parcels and letters in the UK, leveraging its unique networks and powerful brands. It is the UK’s designated universal postal service provider and delivers a “one price goes anywhere” service on a range of parcel and letter products in the UK.

To mark the occasion Moya Greene, CEO of Royal Mail and Donald Brydon CBE, Chairman of Royal Mail joined Xavier Rolet, Group Chief Executive of London Stock Exchange Group, to open trading in London this morning.

Goldman Sachs International and UBS Investment Bank acted as Joint Global Co-ordinators in relation to the Offer, with Sponsor and Joint Bookrunners Barclays and Bank of America Merrill Lynch. Investec Bank plc, Nomura and RBC Capital Markets acted as Co-Lead Managers and Lazard & Co. Limited acted as Financial Adviser to the Government.

Moya Greene said: “This marks the exciting next phase in our company’s long and proud history. With the support of our new shareholders,  we are in a strong position to move forward, to compete effectively across our markets and to grow our business. Royal Mail will continue to be an essential part of the fabric of the UK, providing the universal postal service that is cherished by the twenty nine million households and businesses across the country that we serve.”

Donald Brydon, said: “I’m delighted to welcome all of our new shareholders to Royal Mail. With private ownership, the company is well positioned to continue its ongoing transformation. I look forward to working with all our stakeholders now that we are a listed company where employees, institutions and private individuals all have a stake in the success of the business.”