A dozen “priority” shareholders raked in millions of pounds of easy profits within weeks of Royal Mail’s flotation by privatisation-obsessed ministers, official auditors revealed yesterday.

A National Audit Office report into the postal fire-sale showed that 16 “priority” investors thought vital to the stability of the company snapped up their enhanced stake on the cheap before making a packet on rocketing share prices.

Twelve of the “priority shareholders” had sold all or some of their holdings within the first few weeks of trading.