Royal Mail shares are expected to be some 15 times over-subscribed, according to reports from this morning and yesterday evening surrounding the close of the order book at midnight last night.
Investors have reportedly requested £30bn-worth of shares. Only £2bn will be on offer when Royal Mail joins the London Stock Exchange on Friday and becomes privatised.
The share price is expected to be between 300p to 330p a share. Some analysts are forecasting that the initial share price could increase by as much as 20% on Friday alone.
The upper end of the expected share price range would value Royal Mail at £3.3bn.
More on Royal Mail: