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

Future Retirement Success

Business

Government sells off more NatWest shares ahead of Hunt’s Tell Sid-style share sale plan

by January 3, 2024
January 3, 2024
Government sells off more NatWest shares ahead of Hunt’s Tell Sid-style share sale plan

The government has sold 1.03 per cent of its shares in Natwest as it continues to quietly reduce its stake in the bank.

According to a stock exchange announcement, the Treasury reduced its stake from 37.97 per cent to 36.94 per cent.

It is unclear what price the shares were sold at. The stock closed at 220p on Tuesday. Natwest and the Treasury did not respond to a request for comment on details of the sale.

It follows a similar move at the beginning of December when the Treasury reduced its holdings in the bank from 38.53 per cent to 37.97 per cent.

The government acquired an 84 per cent stake in the lender, then known as Royal Bank of Scotland, during the financial crisis and has been trying to unwind the position ever since. The government plans to fully sell its shares by 2026.

However, the taxpayer has lost out as the bank’s shares have tumbled far below the 499p price paid by the government.

The stock fell below 200p in October and November as the bank’s public image suffered from the fallout of a row with former Ukip leader Nigel Farage over the closure of his Coutts account.

Chief executive Dame Alison Rose resigned in July after she admitted to discussing the Brexiteer’s Coutts account with the BBC.

The scandal prompted a wide-ranging inquiry into “debanking” by the City watchdog, as well as a surge in complaints over the issue.

Chancellor Jeremy Hunt has said that the government is looking at a Tell Sid-style share sale plan for Natwest, offering its stake to retail investors.

A Treasury spokesperson said: “This update shows that our ongoing trading plan continues to make progress towards the government’s objective to return its shareholding in Natwest to private ownership in a way that represents value for money to taxpayers.”

Read more:
Government sells off more NatWest shares ahead of Hunt’s Tell Sid-style share sale plan

0
FacebookTwitterGoogle +Pinterest
previous post
UK and EU climate change strategy will see new reporting procedures and rising consumer prices
next post
2023 Was a Record Year for Public Schooling Culture War

You may also like

IWG Founder Sells £68.5m in Shares to Repay...

May 29, 2024

How to set up a smart home on...

August 20, 2025

Tips for maintaining your industrial tools and equipment

May 17, 2023

⁠The Technology Ensuring Online Transactions Are Secure for...

March 26, 2025

Cineworld to close dozens of cinemas in bold...

July 7, 2024

South Korea Moves to Curb Crypto Speculation: Bans...

January 16, 2024

Pound hits three-month high against dollar as US...

November 16, 2022

Triple lock means state pension set to rise...

September 12, 2023

Set aside 5 minutes to check these 5...

September 22, 2023

Channel 4 boss warns AI firms are ‘scraping...

April 1, 2025

    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

    • XRP price prediction hits new highs, GMO Miner helps you earn $6,800 a day

      August 28, 2025
    • West End retailers lose £310m from VAT-free shopping ban in first half of year

      August 28, 2025
    • Dollar slips as Trump moves to sack Fed governor Lisa Cook in unprecedented clash over central bank independence

      August 28, 2025
    • CDC Director Susan Monarez refuses to be fired as other officials call it quits

      August 28, 2025
    • Bill Gates met with Trump to talk ‘importance of US global health programs and health research’: spox

      August 28, 2025
    • Trump asks SCOTUS to uphold freeze on billions in USAID payments

      August 27, 2025

    Categories

    • Business (8,900)
    • Investing (2,246)
    • Politics (16,503)
    • Stocks (3,228)
    • 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