WORKERS and bosses at privatised Malvern defence firm QinetiQ will share in a £145m fortune when it is floated on the stock exchange.

The former research arm of the Ministry of Defence was the first firm to be privatised by Tony Blair's Labour Government and is expected to have a price tag of more than £1bn when shares are put on sale thie year.

The spoils for the firm's management will be unprecedented for any privatisation in the UK, with chief executive Sir John Chisholm's holding expected to be worth £22 million alone and 230 bosses also cashing in.

But if the flotation does go ahead, it won't be just the bigwigs celebrating - all QinetiQ workers were given the chance to own a stake in the company.

One worker at the Malvern site who took up the offer said: "We haven't been given much information, but the guess is that those who bought a stake will do reasonably well. I didn't put in too much but I am hoping I will be able to share in the company's success."

Qinetiq employs more than 9,000 staff across the UK at locations including Bristol, Bedford, Rosyth and Malvern.

The company is 56 per cent owned by the Ministry of Defence, 31 per cent by private equity firm Carlyle and 13 per cent by employees.

An MoD spokesman would not be drawn on the firm's future, but said: "If and when the Government decides to float QinetiQ, it will be in a way and at a time which will maximise returns for the UK taxpayer."

Customers of QinetiQ include the Pentagon, the US Department of Homeland Security, credit card firm Barclaycard and jet engine maker Rolls Royce.

Its products range from sensors and software for military chiefs to advanced security systems to protect financial firms from fraud.