Royal Mail closing and set to price at top

Bankers on Royal Mail's £2.3bn IPO said on Tuesday that orders below the top of price guidance were likely to miss and that significant scalebacks were expected. Books were set to be closed at 5pm on Tuesday.

  • By Andrew Griffin
  • 08 Oct 2013

Orders below 330p are likely to miss, said bankers on Tuesday. That is the top of the original 260p-330p range, which was narrowed to 300p-330p on Friday.

Bankers have said throughout the process that demand has been very strong.

Bookbuilding began on September 27, and the deal was covered ...

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