The British Government has sold the remainder of its stake in Royal Mail, earning £591.1 million from its 13 per cent holding.
It has opted to gift its remaining one per cent stake to Royal Mail staff.
The Government said that it completed the disposal of a 13 per cent stake through an accelerated book building process to institutional investors at a placing price of 455 pence.
Royal Mail shares had closed at 472.2 pence on Monday, just before the Government announced it planned to divest its final stake.
The Government said arrangements were underway to give the final one percent shareholding to Royal Mail's eligible UK staff.
The disposal ends the government's involvement in the 500-year-old postal operator. Its privatisation in 2013 attracted criticism from opposition politicians and trade unions who said the firm had been sold off too cheaply.
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