Government names 16 Royal Mail investors
1 May 2014 02:37 PM
Government names 16
Royal Mail investors who gave government the confidence to launch the Initial
Public Offering.
Business Secretary Vince Cable
yesterday (30 April 2014) released the names of the 16 ‘pilot fishing
investors’ who gave government the confidence to launch the Royal Mail
Initial Public Offering (IPO) and who were later allocated
shares.
He said:
I told the BIS Select
Committee yesterday [29 April 2014] I wanted to be as helpful and transparent
as possible. In that spirit I had already provided the names to the National
Audit Office and yesterday I provided the list in confidence to the chairs of
the BIS Select Committee and the Public Accounts Committee. I had
been advised that the investors expected confidentiality around their share
acquisitions but there has been strong interest in who the investors are and
speculation around the names, some of it inaccurate. I have decided the public
has an interest in an accurate list being available.
The list of these investors (in
alphabetical order) is as follows:
- Abu Dhabi Investment
Authority
- BlackRock
- Capital
Research
- Fidelity
Worldwide
- GIC
- Henderson
- JP Morgan
- Kuwait Investment
Office
- Lansdowne
Partners
- Lazard Asset
Management
- Och Ziff
- Schroders
- Soros
- Standard Life
- Third Point
- Threadneedle
During late 2012 and 2013, 65
global investment funds were approached to gauge their interest in buying Royal
Mail shares at flotation: a number decided not to take the matter further.
Twenty one major investors showed the strongest support for the transaction as
well as a strong understanding of the company and were approached during the
pilot fishing in early September 2013. Sixteen of these investors gave the
government the confidence needed to launch the offer and were later allocated
shares.
Notes for
editors
The government’s long-term
plan is to build a strong, more competitive economy and a fairer society.
Industrial
Strategy gives impetus to the plan for growth by providing businesses,
investors and the public with clarity about the long-term direction in which
the government wants the economy to travel.
The first achievements and future priorities of the industrial strategy have
been published and can be found herehttps://www.gov.uk/government/publications/industrial-strategy-early-succ
esses-and-future-priorities.