The UK government has reduced its stake in NatWest by selling shares worth £1.24 billion ($1.58 billion). This transaction, which saw the government sell a 4.5% stake, brings its ownership down to 22.5% of equity. The sale was executed at 316.2 pence per share, matching the previous day's closing market price. The move comes as the Treasury suspended plans for a retail share sale, opting instead for a buyback. The market's positive reception of banking stocks has facilitated this reduction in government ownership. Despite the sale, the government is expected to remain a shareholder in NatWest for several years. The transaction is broadly TNAV/share neutral.
The UK government shrinks its ownership of NatWest again but is likely to remain a shareholder for years https://t.co/LrV1oe1vM6
The UK government brings ownership of NatWest to 22.5% https://t.co/LrV1oe23BE
$NWG.L $A5G.IR $PTSB.IR #NatWest buys back chunky £1.24B/3.5% stake from UK govt at 316.2p/share, ie at y'day's closing mkt price: https://t.co/erSmFqEGGx https://t.co/v6Fhs13kE8 Model transaction for reducing Irish govt stakes in #AIB & #PTSB (& #NWG's own stake in #PTSB).
Market embrace of banking stocks is helping the UK exit NatWest https://t.co/VFc1PZMe8R
Britain cuts NatWest stake to 22% via buyback as public share sale shelved https://t.co/v4hSHh3hGs https://t.co/MJ9s4XSoJf
UK government cuts NatWest stake after suspending plans for retail share sale https://t.co/ExGYRsLqJN
Treasury sells another £1.24bn of NatWest shares as election delays retail sale https://t.co/WoBCusWoyH
NatWest: UK gov. sold another 4.5% back to $NWG "Transaction is broadly TNAV / share neutral" UK government now owns 22.5% of equity https://t.co/oN2N65rG5E
U.K. government sells NatWest shares for $1.58 billion https://t.co/avil2VejXQ
Britain cuts stake in NatWest via 1.24 bln pounds share sale https://t.co/DXqVrTaWZ4 https://t.co/eGNgh6vhyf