Royal Mail: Shares Question in House of Lords

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Royal Mail: Shares
House of Lords



Lord Donoughue (Labour)

To ask Her Majesty’s Government whether they propose to ask any of the banks involved in advising on the flotation price of Royal Mail for a repayment of fees if the share price remains significantly above the offer price over the medium term.

Viscount Younger of Leckie (Conservative)

The Government has taken an aggressive approach to fees. The underwriters will share a maximum fee of 1.2% of the institutional proceeds. This includes a success-based and discretionary element of 0.3%. This compares with 2.5% for the previous Government’s flotation of QinetiQ. We will take a decision on the discretionary element in the coming weeks and will consider factors including initial proceeds and share price performance since the Initial Public Offering (IPO).