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

Octopus hits back at challenge to Bulb deal...

March 3, 2023

National Grid to pay households to use less...

January 23, 2023

Master the Table: 3 Innovative Ways to Play...

November 19, 2024

Farage puts 25% odds on becoming Prime Minister...

January 20, 2025

How does the workplace impact productivity?

February 20, 2024

UK economy contracts in January, signalling a tougher...

March 14, 2025

How to Drive More Traffic with Instagram Swipe-Up...

November 27, 2024

End of an Era: The 195 Years Casino...

April 2, 2024

House prices could drop by upto 15% as...

September 28, 2022

5 Ways To Keep From Losing Your Computer...

August 8, 2022

    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

    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • 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