Royal Mail shares jumped as much as 38 percent on their trading debut in London amid surging demand
The allocation of Royal Mail stock to institutional investors, who bid for more than 20 times the shares available to them, was yesterday cut to 67 percent from the planned 70 percent to meet unexpectedly high demand from individuals.
The privatisation, the biggest in the U.K. since British Rail was broken up in the 1990s, raised stg#1.7 billion.
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