Citigate Dewe Rogerson advising on Royal Mail privatisation
HM Government is being advised by Citigate Dewe Rogerson on communications for the privatisation and IPO of Royal Mail.
Reporting to the Shareholder Executive and the Department for Business Innovation and Skills, Citigate Dewe Rogerson is the Government’s sole PR adviser for the IPO, working on broad communications, media relations and retail offer communications strategy and execution.
Government today announced the formal intention to float announcement for the long awaited sale of shares in Royal Mail which is expected to take place in the coming weeks. Media speculation has put the size of its potential market capitalisation at up to around £3 billion.
Government intends to sell a majority of the business, including a 10% stake to be transferred free to employees, making it the largest UK IPO this year and the largest UK Government privatisation since Railtrack and British Energy in 1996 – also handled by Citigate Dewe Rogerson.
A proportion of the offer will be made available to the public through a Retail Offer, who will be able to apply online through a dedicated government website, by post or via financial intermediaries. The retail offer will be supported by press and online advertising over the coming weeks.
Citigate Dewe Rogerson has advised the UK Government on 90% of its privatisations over the last 30 years from the flotations of BT, British Gas, the water and electricity companies and British Steel through to Railtrack, British Energy, QinetiQ and now Royal Mail. The CDR team working on the deal comprises veteran share offer and privatisation specialists Chris Barrie. Andrew Hey, Toby Moore and David Westover.