Royal Mail and Chrysler are both businesses with a proud industrial legacy that suffered in recent decades and each has embarked on an initial public offering. The outcomes are quite different.
Shares in Royal Mail soared on their stock market debut today, raising questions about whether the UK government and its advisers underpriced the deal. The heavy demand for shares, despite trenchant opposition from the Royal Mail’s trade unions, recalls the days of Margaret Thatcher’s privatisations. Read more