Royal Mail float

[DimPrawn]

And yes, just like Help to Buy (votes) this is another cynical pre-election (tax payers) money giveaway.

And I'm gonna be one of the recipients of some of it.



Boomed!

Free money, my house is getting richer every day! Vote Tory, it's all win win boom for everyone! What's not to like?

[gricerboy]

Quick question - I open a Hargreaves Lansdown ISA and apply for 4k Royal Mail shares.
Supposing I only get an allocation of £750. Can I get the 3250 back or will I be obliged to invest it in other funds?

^bump

[SimonMac]

^bump

You can withdraw cash from an ISA at any time, however you can only put in £5760 so if you took out £3250 you can still only put in £1760 for the rest of the year

[gricerboy]

You can withdraw cash from an ISA at any time, however you can only put in £5760 so if you took out £3250 you can still only put in £1760 for the rest of the year

Thats a cash isa.

What I meant was if I didn't get the full allocation, could I get the money I used to open a stocks and shares isa that didnt get invested in royal mail shares straight back?

Or would I be obliged to invest it in other funds?
I dont really want a stocks and shares isa as Im doing this for short term profit only but it seems to be the way to go.

[jamesbrown]

The offer is generally thought to be under valued, so there is a short term profit (days not months) where the consensus of opinion is that the shares are really worth about 400-450p rather than the 330p offer price, so there is room for a quick buck, but I don't feel that many people other than the big investment funds will get more than the minimum allocation of 250 or so shares

Retail investors won't be able to trade the shares until 15th IIRC (banks on the 11th).

[RedSauce]

I have added my ISA allowance for the year to a new h&l account and applied for RM shares. If in 3-6 months i have turned my £11,500 into £13,000, can sell my RM shares and invest the full £13,000 (- fees) into something else still under my Isa allowance?

[mudskipper]

Thats a cash isa.

What I meant was if I didn't get the full allocation, could I get the money I used to open a stocks and shares isa that didnt get invested in royal mail shares straight back?

Or would I be obliged to invest it in other funds?
I dont really want a stocks and shares isa as Im doing this for short term profit only but it seems to be the way to go.

Same thing.

You can take the cash back out, but if you do, you can't put it in again this year. Cash doesn't earn any interest.

[mudskipper]

I have added my ISA allowance for the year to a new h&l account and applied for RM shares. If in 3-6 months i have turned my £11,500 into £13,000, can sell my RM shares and invest the full £13,000 (- fees) into something else still under my Isa allowance?

Yep, you can only pay in up to the limit. Any money you make you can reinvest (think of it like interest on a cash ISA). (Similarly if you lose money you can't top it up again)

[gingerjedi]

Another noob question, I ordered £1.5k (via HL) but as I don't want to miss out on free money I think I'd rather order £5k.

Do I have to cancel the initial buy order or can I just add to it?

[SimonMac]

Another noob question, I ordered £1.5k (via HL) but as I don't want to miss out on free money I think I'd rather order £5k.

Do I have to cancel the initial buy order or can I just add to it?

Ring them on 0117 980 9800 and you should be able to amend, just note with the over subscribing you are unlikely to get the full allocation you bid for so bid as much as you can