#NatWestshares

[thxnews]

UK Gov Sells Shares in NatWest for £1.26 Billion, Ownership Now 38.6%

  - Government sells c. £1.26 billion of NatWest shares to NatWest as stake reduced to c. 38.6% - Announcement marks a further major milestone in returning the bank to private ownership - Sixth block sale of NatWest shares since the government intervened in NatWest to protect financial and economic stability during the global financial crisis in 2008   NatWest is a step closer to being returned to full private ownership as the government sells c. £1.26 billion in shares back to NatWest via a Directed Buyback. The sale reduces the government’s shareholding to c. 38.6% - down from around 84% at its peak – delivering significant progress against the government’s intention as announced at Spring Budget to fully exit the shareholding by 2025-2026, subject to market conditions and achieving value for money for taxpayers.  

Andrew Griffith MP. UK economics secretary. Photo by UK Government.   The Economic Secretary to the Treasury, Andrew Griffith said: Today’s sale is another major milestone in returning NatWest to full private ownership as promised. The government has now sold well over half of its shareholding.   The government intervened in NatWest (formerly the Royal Bank of Scotland, RBS) with the objective of protecting financial and economic stability during the 2008 global financial crisis.  

Welsh Royal Bank of Scotland branch. Photo by Alex Liivet. Flickr.   The Office for Budget Responsibility has been clear that – without the government’s interventions in the financial sector – the cost of the 2008 global financial crisis would almost certainly have been far greater. The government will only dispose of its NatWest shareholding when it represents value for money to do so and market conditions allow. Alongside progress being made by the ongoing trading plan, HMT and UK Government Investments continue to keep all options under active consideration for future sales, including via accelerated bookbuilds if conditions permit.   Sources: THX News & HM Treasury. Read the full article

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