Treasury sells £1.1bn NatWest shares back to the banking group
The Treasury said this morning it had completed the sale of £1.1bn in NatWest Group shares, selling the stock back to the banking group.
The agreement with NatWest, formerly the Royal Bank of Scotland Group, represents the government’s third sale of its NatWest shareholding, bringing its stake down from 61.7 per cent to 59.8 per cent.
NatWest bought back around 591m shares at 190.5 pence per share, worth a total of £1.1bn, in an off-market purchase.
The sale was authorised by Chancellor Rishi Sunak and managed by UK Government Investments (UKGI).
The Treasury said in a statement this morning that the sale “represents an important step in the government’s plan to return institutions brought into public ownership as a result of the 2007-2008 financial crisis to private ownership.”