Royal Mail seeks its stockbrokers

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Business minister Michael Fallon yesterday began looking for stockbrokers and other share dealers to act as intermediaries for private investors during Royal Mail’s initial public offering (IPO).

The UK government confirmed last month that it would sell a majority stake in the postal service before April.

The public will have the chance to buy shares in Royal Mail through a retail offer on the same terms as institutional investors, Fallon said.

He added: “This is another step towards our commitment to sell shares in Royal Mail in this financial year. The retail offer will be an important part of the overall IPO.”

The UK government is being advised by Barclays, Goldman Sachs, Investec, Merrill Lynch, Nomura, RBC and UBS.