I can’t really spin this to be connected with parenting, although had there been the possibility of a decent profit on buying and selling shares from the Royal Mail IPO, I would have spent it on the children.
I have been interested in the stock market since my dad bought some shares in Rolls Royce on my behalf when I was 12. I’ve never had much money to invest in the stock market, but I have enjoyed dabbling every so often. I also read a lot about stock markets in this link but in recent years, with children and little disposable income, I have done so less and only providing I’ve paid into the childrens’ CTFs and Junior ISAs and I’m not using housekeeping money!
As a stay-at-home-mum, who previously worked for a financial company in the City, the idea of dipping my toe into investing again is an exciting one. Although only seven or eight at the time, I remember the whole British Gas ‘Tell Sid’ IPO, and the Royal Mail IPO was reminiscent of those times. I wanted to be involved.
I applied for a smallish amount of shares in the Royal Mail IPO: more than the minimum investment of £750, but a heck of a lot less than £10,000.
The Royal Mail IPO and private investors
I found out this morning that I, and every other small investor that had applied for less than £10,000-worth, had received just £750 of stock (only 93,000 out of 730,000 small investors had actually wanted to buy just £750). Those wanting to buy more than £10,000 got the news today that they had been allocated a grand total of zero shares. This is amazingly disappointing for anyone who had a nest egg they wanted to invest.
Yet again, the private investor is maltreated and given a paltry tranche whilst the greedy institutions are able to get their mitts on the lion’s share. I’m really cross.
To add insult to injury, the money for the full amount I wanted to invest has been taken out of my account and, like 635,000+ others, I might not get this refunded until October 21. I won’t get a penny in interest. What a nice little earner for the Government!