Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Historical report from 2018.
Jamie Nimmo, Financial Mail 05 Aug 2018.
BlackRock has taken a short position in the FTSE 100 firm
It stands to gain from the recent share price slump with less letters delivered
The revelation is likely to anger critics of the Government's Royal Mail sale
A top City investor which got its hands on Royal Mail shares in a preferential deal during the controversial privatisation is now cashing in on the postal service's woes.
BlackRock has taken a short position in the FTSE 100 firm – and so it stands to gain from the recent share price slump caused by a fall in the number of letters it delivers.
The revelation is likely to anger critics of the Government's Royal Mail sale who claimed City firms cashed in while the taxpayer was short-changed.
A top City investor which got its hands on Royal Mail shares in a preferential deal during the controversial privatisation is now cashing in on the postal service's woes
Bets against Royal Mail have hit an all-time high and are worth £230 million. Most of these have been taken out by hedge funds.
BlackRock's bet – worth more than £30 million today – stands out because the US investment giant was one of 16 firms given priority investor status when Royal Mail was floated in 2013.
The sale was heavily oversubscribed by private investors, many of whom did not get all the shares they wanted because most were reserved for institutional investors such as BlackRock.
These priority investors were sold shares due to their supposed willingness to hold them long term.
But the National Audit Office has found most of them sold some or all their holdings within a few weeks, making a 'substantial' profit. For a supposedly loyal long-term investor such as BlackRock to short the shares takes matters a step further.
Former Chancellor George Osborne, who was in Number 11 at the time of the float, is now a part-time adviser at BlackRock.
Short-selling is a trading tactic used to bet a share price will fall. Investors borrow shares, sell them and then hope to buy them back at a lower price for a profit before returning them to the lender.
Royal Mail's shares jumped on their stock market debut, leading to claims the taxpayer had been short-changed by at least £1 billion.
They have fallen nearly 30 per cent since May and by 8 per cent since June 12 when BlackRock began its short-selling. Other major short-sellers are US hedge fund Eminence Capital and London-based hedge fund Man GLG.
More than 5 per cent of Royal Mail shares are now out on loan to short-sellers, according to Financial Conduct Authority data, compared with 1.8 per cent in April.
Great play,there already quids in,then when the times right to buy back the shorts, they win again when the share price goes up…the set ups nearly there,the times nearly right…been saying this for a while.
The increases were very small.
BlackRock 0.81% 0.11% 21Apr
Citadel 0.82% 0.08% 21 Apr
GLG 0.52% 0.15% 4 Mar
Marshall 1.71% 0.03% 28 Mar
Total 3.86%
As usual impossible to guess what goes on here. 2 shorts increased yesterday and the SP went up. I think all the regular contributors know its par for the course to expect the unexpected. Lets see what next week brings
https://www.shorttracker.co.uk/
As you say JB "Some of us have seen it many times before "
Nothing is gained by a rinse & repeat method of negotiation. It's quite simply a time waster. The threats are made but both sides know it's bluff.
However it's still damaging as others use the threats to add weight to their reasons to drop the SP.
Having said that the old timers know that a lower SP is quite simply an opportunity to build their holding for future profit.
It's all so predictable. Today was an opportunity to pump the SP next it will be shorted further.
As expected, some early disagreement, ongoing discussions, revised offer, back to the exec and possibly a ballot to the membership rather than the union accepting on their behalf. Some of us have seen it many times before and in much more fraught conditions. As always it will be resolved and agreement reached. Good to see no shorters activity this week and possibly they may try and take advantage. I am going to hold off buying until the next move from the shorters (did someone close today causing the increase to SP?) and/or a further update on discussions. Oligarch thanks for posting the link.
but hardly surprising. Pullinger upset because the company asking for MORE pre-conditions...in his own words: "more strings attached than Thunderbirds". Surely he wasn't surprised at that? He was extremely naive if he was.
Share price should take a tumble tomorrow then.
Some hard negotiating ahead. Think the CWU might be on a bit of a hiding to nothing on this one though. Won't be much sympathy from many outside observers if the CWU is looking for a pay rise comparable to inflation. The CEO of ICI or the Governor of the Bank of England might get it...but a postie?
Can't see it.
But can see calls for a strike ballot...give it three weeks at most.
Looks like another cheap buying opportunity on the way gentlemen.
He should just cut and paste his response to previous negotiations. The Shorters Pal.
Just Curious to understand the current and future predictions.
Can see these being better than anticipated. Tracked mail has remained busy from what I see of it. Last couple of days has been absolutely crazy busy!!
Come final results day there will be an update about Warrington Hub I should think.
Looks like they will fire that big monster of a machine up towards the end of May on low volumes and a small number of operatives just till the managers are comfortable with the feel of it all.
All the duties and shifts have been sorted out and 300 staff have been ascribed to their positions...obviously this is only 35 - 50% of the total staff that will be required when the machine is cranked up to its maximum output.
Cross docking operation in full swing over there now...very high volumes of traffic.
Once that new Daventry Hub is up and running in the not so distant future...then £7.02 will be just a fast fading point in the rear mirror.
I want £8.00 a share for my stock...and in a couple of years from now I'am going to get it.
Seems JP are quoting £7.02 as the new price target.
JP have been bullish on Royal Mail right from the onset of the pandemic.
One of the few brokers who have maintained any consistency here. Fair play to them!
blockfire, "Maybe good news for the pay deal?"
That would be some heavy insider knowledge?
:-))
361.20 GBX +22.40 (6.61%)today
21 Apr, 11:23 am
359.90 GBX +21.10 (6.23%)today
21 Apr, 11:21 am
bad time ,i thought 325p was the bottom anyway
Overweight £7.02.
Keep in mind that a short hedge protects against price declines. It's a strategy that takes a short position in an asset where the investor or trader is already long.
As I mentioned last month…now hedging for when they close
Yet BlackRock still maintain a 0.7% short?
Someone’s got wind about something…black rock have been accumulating for a while.
RNS
BlackRock, Inc.
Upped their stake.
Wet my beak four or five times over the last several weeks (including again today)...even managed to snare a few at £3.23
Not buying again now till the union gives an update.
But good, bad or indifferent...it is all the same to me.
If it goes sub £3.00 on bad news...then so be it.
Will just load up. Simple really.
Good bit of information by AngerSharkz...I have often wondered why overseas investors, talking particularly about Northern America, don't seem interested in undervalued UK stocks. It would seem it might just be about time that they should.
Totally agree with Mike's comments. My decision is to hang on in. I am certain that at some future time it will all come good.