Royal Mail shares leap up 39%, adding £1.2bn to value

Royal Mail has hit the London Stock Exchange – and with quite the bang.

Shares leapt up 39% almost immediately after the company made its debut on the stock market this morning, from the float price of 330p to a peak of 459p per share.

The spike means the company increased in value from its pre-float value of £3.3bn to some £4.5bn, and all in a matter of minutes of the market opening at 8am this morning.

A whopping 10 million shares were traded in the first 30 seconds of the market opening.

By 9am the share price had dropped slightly to 444p.