Brokers prepare official complaint over Royal Mail float

[TrueBlueTerrier]

http://www.investmentweek.co.uk/investm ... mail-float" onclick="window.open(this.href);return false;?

Stockbrokers across the City are considering lodging an official complaint after many were excluded from the Royal Mail float last week.
The huge demand for Royal Mail shares led the government to reject any application made for more than £10,000 worth of shares, with 500 institutional investors who applied getting no shares at all, according to reports.

The brokers who failed to get any shares in the Royal Mail - which saw its share price jump 38% on the first day of grey market trading - have argued the decision to reject their orders outright was unfair.

They plan to lodge a complaint with Vince Cable, the business secretary, or the business minister, Michael Fallon.

Both ministers will today review the launch of Royal Mail's historic share offer, the allocation of shares and the conditional trading so far.

After being priced at 330p a share, the stock jumped to 455p on Friday.

The shares will be openly traded tomorrow on the London Stock Exchange where they are on course to enter the FTSE 100.

[Shambles]

Hmmm

Watch this space, me thinks

[aposter]

Aw boohoo some yuppie porsche driving wan£ers didn't get the chance to make a fast buck, beating purple heart piss. Rearrange as required

[UnhappyGremlin]

In all seriousness, shall we have a whip round for the poor chaps?
It's not right or fair that they haven't been able to make a quick profit.

If every postie sends a fiver, that'll make up for it......