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Royal Mail shares priced at 330p

Royal Mail shares to be priced at 330p initially, UK government confirms

Investors who applied for 750 worth of Royal Mail shares will receive their full allocation the BBC has learned.

Business Secretary Vince Cable says Royal Mail retail shares were seven times over-subscribed, with 700,000 applications.

Just 368 out of the 150,000 Royal Mail staff chose not to accept free shares in the privatised company, the BBC learns.

Business Scretary Vince Cable says Labour's Chuka Umunna is wrong to say the Royal Mail is being sold off too cheaply.

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