How much did royal mail flotation raise

Royal Mail's initial public offering (IPO) in 2013 raised £3.3 billion (approximately $4.5 billion USD) for the company. The IPO was one of the largest in the UK in recent years and was seen as a significant milestone for the company.

The IPO was priced at 330p per share, and the company issued 748 million new shares to raise the funds. The flotation was oversubscribed, with demand exceeding the available shares by a factor of 10.

The proceeds from the IPO were used to pay off some of Royal Mail's debt, invest in the business, and return value to shareholders. The company's pension scheme also benefited from the flotation, with a significant contribution made to the scheme.

It's worth noting that the IPO was not without controversy, with some critics arguing that the company was being sold off too cheaply and that the flotation would lead to job losses and reduced services. However, Royal Mail's management and the UK government defended the flotation, arguing that it would provide the company with the funds it needed to invest in its business and compete in a rapidly changing market.