UK govt cuts stake in NatWest via £1.26bn buyback
The UK government has cut its stake in NatWest Group to 38.6% via £1.26bn off-market buyback deal.
Banks
4,283.48
16:49 20/09/24
-1.23%
-53.49
FTSE 100
8,229.99
17:14 20/09/24
n/a
n/a
FTSE 350
4,543.89
16:49 20/09/24
n/a
n/a
FTSE All-Share
4,501.08
17:04 20/09/24
n/a
n/a
NATWEST GROUP
337.70p
16:40 20/09/24
0.81%
2.70p
NatWest will buy 469,200,081 shares at 268.4 pence each, the closing price on May 19. The government previously held 41.4% in the bank.
It has been steadily reducing its stake after holding 84% at the peak of its ownership following a taxpayer bailout during the financial crisis of 2008 caused by malfeasance in the sector.
Reporting by Frank Prenesti for Sharecast.com