Royal Mail shares – you should know your allocation by Friday morning in time for ‘conditional dealing’
- 9 October 2013
Investors should know what allocation of shares in Royal Mail they will receive by Friday this week says Hargreaves Lansdown. The broker has issued an explanatory note, in which it suggests that the best way to view shares and to deal in them is through an online broker and of course, Hargreaves Lansdown Vantage Service – is one such service.
Richard Hunter, Head of Equities, Hargreaves Lansdown says: “We expect share allocations will be announced so investors will know how many shares they have received in time for the start of conditional dealing at 8.00 am on Friday 11 October.” The shares will be fully listed on the stock exchange on Tuesday 15th.
The firm says that if the application for shares is scaled back, investors have three options – they can purchase more Royal Mail shares, though obviously not at the float price but at the market price, they can purchase other investments or get the money back.
The note also explains conditional dealing. HL says most private investors, including its customers, who applied through an intermediary should be able to deal during the conditional dealing period. However the firm warns that investors should be aware that if for any reason Royal Mail cancels the listing, all deals will be void. It is also not possible to buy shares within an ISA or SIPP during conditional trading though sales are permitted.
HL’s dealing commission on Royal Mail shares ranges from £5.95 to £11.95 per deal.
- Brits lose £670m per year to online fraudsters
- Lenders cut mortgage rates to record lows
- Pensioners could be hit with 45% tax charge shock when new freedoms kick-in
- Disappointment as Government's Pensioner Bonds will not pay monthly income
- Car insurance premiums start to rise as fake whiplash claims continue to plague insurers
- Prison or a fine for pensions guidance imposters
- Employees finally get a pay rise... of 8p
- Tesco chairman steps down as group confirms it actually overestimated its half year profits by £263m
- GSK is a "buy", but pharmaceuticals still under pressure says Share Centre
- Pound falls on Bank of England minutes