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

Bosses told to cut out boozy office parties...

May 9, 2023

£150,000 available to support North-West entrepreneurs from disadvantaged...

September 10, 2024

Actions speak louder than words

July 16, 2024

Work on £1.75bn Midlands Rail Hub to Commence...

February 29, 2024

Rishi Sunak returns to alma mater with new...

January 22, 2025

UK at ‘massive global disadvantage’ over tourist tax,...

October 21, 2024

UK investigates using frozen Russian assets to fund...

October 16, 2023

Tens of thousands of people may have been...

July 30, 2023

3 Tips for Gaining an Edge in Competitive...

July 18, 2024

Local IT Pros Reveal the Secrets to a...

December 23, 2024

    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

    • Silver’s Surge is No Fluke—Here’s the Strange Ratio Driving It

      June 6, 2025
    • Friday Feature: Incubate Debate

      June 6, 2025
    • Risch urges ‘top to bottom’ USAID spending review after waste, fraud exposed

      June 6, 2025
    • Universities in Libertarian Land

      June 6, 2025
    • Elon Musk may speak to Trump aides in push to calm feud

      June 6, 2025
    • Everyone Talks About Leaving a Better Planet for Our Children: Why Don’t We Leave Better Children for Our Planet?

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,013)
    • Politics (15,545)
    • Stocks (3,131)
    • 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