The Government is close to announcing the flotation of Royal Mail in a move which would value the company at up to £3bn.
The Financial Times reports although no final decision has yet been made, a Government official told the newspaper “preparations were proceeding at pace”.
The flotation of Royal Mail could take place in mid-October but while the Government says it wants to sell a majority of the company, it has yet to confirm the percentage it will make available.
Business Secretary Vince Cable announced in July coalition plans to sell off a majority stake in Royal Mail Group by floating it on the London Stock Exchange in the current financial year.
The firm’s 150,000 staff have been guaranteed a 10 per cent stake in the business which will equate to around £2,000 each if Royal Mail is valued at £3bn.
The public will be able to buy shares in a retail offer, available through stockbrokers and direct from the Government via website.
The scheme will be marketed via newspaper and possibly online but not television.