Government raises 拢1.1 billion from sell-down of NatWest Group shareholding
皇冠体育app government has successfully completed a 拢1.1 billion sale of part of its holding in NatWest Group plc (NatWest, formerly the Royal Bank of Scotland Group plc), it announced today (19 March 2021).
皇冠体育app shares were bought back by NatWest.
This is the government鈥檚 third sale of its NatWest shareholding, bringing it down from 61.7% to 59.8% after cancellation of shares by NatWest.
It represents an important step in the government鈥檚 plan to return institutions brought into public ownership as a result of the 2007-2008 financial crisis to private ownership.
NatWest bought back c.591 million shares at 190.5p per share, worth a total of 拢1.1 billion, in an off-market purchase. 皇冠体育app process was authorised by the Chancellor Rishi Sunak and managed by UK Government Investments (UKGI).