Royal Mail IPO

We were appointed HM Government’s sole communications adviser for its transformation, privatisation, IPO and listing of Royal Mail PLC on the London Stock Exchange, 2011 - 2013.



To turn around the difficult history, backdrop and perception of poor operational and financial performance, strained industrial relations, public antipathy and early investor and media scepticism to build support for the Royal Mail sale rationale, investment case and equity story, helping secure a successful IPO and value for taxpayers.


We devised a co-ordinated, market research-based, Government-led strategy across financial PR, media relations and advertising, starting 8 months pre-IPO. This built belief in the case for and inevitability of the privatisation; demonstrated its progress against each, well-flagged milestone; highlighted the business transformation; communicated growing investor endorsement of the IPO equity story; and helped maximise retail and institutional demand in the IPO period.


We helped achieve a radical shift in public, media and investor opinion of Royal Mail from a structurally loss-making entity to attractive growth and returns story, contributing to a successful IPO that delivered c£2bn in proceeds from institutions and a retail offer six times oversubscribed by the public.