UK government completes final sale of its stake in Royal MailStaff writer ▼ | October 13, 2015
The UK government has sold a 13% stake in Royal Mail plc at a price of 455 pence per share. The remaining 1% shareholding will be gifted to Royal Mail’s eligible UK employees - taking the total stake in the business owned by employees to 12%.
United Kingdom 455p per Royal Mail share
Business Secretary, Sajid Javid, said: "This is a truly historic day for Royal Mail with the workers gaining a share of this history.
"We have delivered on our promise to sell the government’s entire remaining stake which means that for the very first time the company is now wholly owned by its employees and private investors. This is the right step for the Royal Mail, its customers and the taxpayer.
"Proceeds will also go to help pay off the national debt – a crucial part of our long term plan to provide economic security for working people." ■