With the sell off of the Royal Mail, it appears that 66.6% of the shares were reserved for the chosen few: with only 33.3% reserved for the hoi polloi sometimes called the plebs. Included in the chosen few were executives of the Royal Mail, the chosen underwriters of the issue along with their inside friends and clients including, it is reported, a friend of a friend of George Osborne.
Because the issue was grossly undervalued, and possibly because of inside information about the range of valuations placed on the issue (up to 10 billion) the senior executives of Royal Mail along with friends and insiders made obscene windfall killings on the issue. The Plebs that I know who wanted to buy over 10,000 were issued nothing and those that tried to buy up to 10k were permitted to buy a plebian maximum amount of : 0.75K (7,500) !! Difference: Plebs maximum gain about 350 pounds; insiders: the sky’s the limit BUT some are known to have made up to 250K. Nothing has changed since the dirty thirties; the rich get richer and the poor get poorer! Nice Eyes !!
- VIDEO: Fresh row over Royal Mail shares (themexicanpost.wordpress.com)