Treasury to sell GBP 1.1 bln in NatWest shares

Tuesday 11 May 2021 10:28 CET | News

The UK government has launched the sale of a GBP 1.1 billion stake in NatWest to cut the British taxpayer’s holding in the bank.

In the second selldown of 2021, UK Government Investments (UKGI), which manages the shares on behalf of the Treasury, said it would sell 580 million shares, representing about 5% of the bank’s stock. Issuing a statement after market hours, UKGI said the government’s stake in NatWest would be reduced to approximately 54.8% after the completion of the disposal.

Taxpayers are not expected to recover all the money pumped into the bank, with the shares still worth less than half the price the government paid more than a decade ago.

The government has been gradually reducing its stake in the bank over recent years.

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Keywords: banks, central bank, COVID-19, treasury
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech