Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

UK government sells £1.26bn of NatWest shares

by May 22, 2023
May 22, 2023
UK government sells £1.26bn of NatWest shares

The UK government has sold £1.26bn of NatWest shares back to the bank, which it bailed out in a near £46bn deal in 2008.

The sale will reduce the taxpayer’s stake in the high street bank, formerly known as the Royal Bank of Scotland Group, from 41.4% to 38.6%.

Over the past decade, shares in NatWest Group, which has a market value of about £25bn, have tended to trade at barely half the average price of the bailout.

NatWest has agreed to buy about 469m shares from HM Treasury at a price of 268.4p a share – the price at which they closed on Friday night.

“This transaction reduces government ownership below 40% and demonstrates positive progress on the bank’s strategic priorities and the path to privatisation,” said the NatWest group chief executive, Alison Rose.

Last month, the government extended its plan to sell off its stake in NatWest by another two years, after weeks of banking turmoil that hit the lender’s shares and temporarily fuelled fears over a fresh financial crisis.

UK Government Investments (UKGI), which manages the shares on behalf of the Treasury, said the scheme to strategically sell portions of the British taxpayer’s shareholding would now run until August 2025.

The original one-year trading plan, launched in mid-2021, was meant to offload up to 15% of the shares by drip-feeding them back into the private market, before being extended to mid-August this year.

“UKGI and HM Treasury will keep other disposal options under active consideration, including by way of accelerated bookbuilds, when market conditions permit,” the government said on Monday.

The timeframe is twice as long as it took for the government to offload its holding in Lloyds Banking Group, which bought HBOS in a government-orchestrated rescue plan at the height of the financial crisis and was handed a £20.3bn bailout.

Lloyds bought back the last of its shares from the government in 2017.

Read more:
UK government sells £1.26bn of NatWest shares

0
FacebookTwitterGoogle +Pinterest
previous post
Secrets of Success: Verity Batchelder, co-founder, Good Life Sorted
next post
Business Champion Awards is a finalist in the Awards Awards 2023

You may also like

Bank of England and Treasury explore the need...

February 7, 2023

Why more companies are turning to recruitment agencies...

April 17, 2023

Why You Should Use Market Research Services to...

May 24, 2023

UK businesses say tech is key to unlocking...

November 1, 2022

How 5G Technology Is Changing Business Operations In...

December 13, 2024

Unions calls for better protection for workers against...

July 20, 2023

Asda to increase staff presence at checkouts, reducing...

August 11, 2024

Weight-loss drug firm becomes Europe’s most valuable

September 6, 2023

Apple to put USB-C connectors in iPhones to...

October 27, 2022

Small businesses postponing investment plans as they cope...

August 24, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Good Riddance to the Penny

      June 5, 2025
    • Oracle Fusion Testing: The UK Leader’s Playbook for Automation

      June 5, 2025
    • Blue state Republicans threaten rebellion if Senate changes key provision in Trump’s ‘big, beautiful bill’

      June 5, 2025
    • Ricketts, Fetterman team up for crackdown on China’s attempts to purchase US farmland

      June 5, 2025
    • Hamas working to ‘sabotage’ Trump-backed aid group with ‘fake news’: Israeli official

      June 5, 2025
    • Longtime Trump loyalist flips on GOP’s ‘big, beautiful bill’

      June 5, 2025

    Categories

    • Business (8,148)
    • Investing (2,009)
    • Politics (15,529)
    • Stocks (3,128)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved