IF YOU BID FOR £10,000 OR LESS
YOU GET £749.10
IF YOU BID FOR OVER £10,000
YOU GET NOTHING
WHAT HAPPENS NOW
Conditional trading of Royal Mail shares begins, with the price expected to jump. Individuals who failed to receive their full allocation of shares can expect to see their cash put on account.
Unconditional trading begins, meaning the company is formally listed on the London Stock Exchange and new shares can be bought to put in ISA wrappers.
Royal Mail becomes eligible for inclusion in the FTSE 100, meaning large pension funds could be obliged to buy shares in the company.