Demand for Royal Mail continues to be high ahead of flotation
Spreadbetting firm IG Index on Wednesday revealed that investor demand for the soon-to-float Royal Mail continued to be record high.
The general consensus is that the shares will open at a significantly higher price than had been estimated by the government.
Market Analyst for IG, Alistair McCraig, said: "Were seeing a split of about 60% buyers and 40% sellers. The sellers are straight profit takers rather than short-sellers. Theres still a huge interest in this IPO [initial public offering] and we expect it to continue until the unconditional trading starts on Tuesday."
The government had estimated a top price of 330p, but the mid-price in the grey market on Wednesday was 397p.
NR