Government raises £1.1 billion from sell-down of NatWest Group shareholding
The government has successfully completed a £1.1 billion sale of part of its holding in NatWest Group plc (NatWest, formerly the Royal Bank of Scotland Group plc), it announced today (19 March 2021).
The shares were bought back by NatWest.
This is the government’s third sale of its NatWest shareholding, bringing it down from 61.7% to 59.8% after cancellation of shares by NatWest.
It represents an important step in the government’s plan to return institutions brought into public ownership as a result of the 2007-2008 financial crisis to private ownership.
NatWest bought back c.591 million shares at 190.5p per share, worth a total of £1.1 billion, in an off-market purchase. The process was authorised by the Chancellor Rishi Sunak and managed by UK Government Investments (UKGI).