Royal Bank of Scotland (RBS) CEO Ross McEwan yesterday said that now is “the right time to re-start the share sale process” following the governments’ decision to sell 7.7 per cent of its stake in the company for £2.5bn.
However, it seems as though investors were less enthusiastic, with RBS shares closing down more than 5.3 per cent yesterday.
UK Government Investments sold the tranche of RBS shares for 271p per share, notching up a loss on the average 502p per share the government paid in the £45bn 2008 bailout.
Hargreaves Lansdown analyst Laith Khalaf said the loss to the taxpayer of the stake’s sale would be “substantial” to around £2.1bn, but it was “the price paid for financial stability in the depths of the global banking crisis”.
However, Rathbones investment director Jane Sydenham added that now “is a good time to start selling the RBS stock” with the economy in “good shape”.
Latest News
-
One in four IFAs looking to introduce AI in 2025, study finds
-
British Business Investments provides £20m facility to Sprk Capital
-
Share of incorporated portfolios more than doubles since 2020
-
Average two and five-year fixed rates drop at start of 2025
-
Mortgage Advice Bureau takes stake in Dashly
-
Housing market is ‘turning’ despite negative prices, e.surv states
The UK housing market in 2024
The performance of the UK housing market in 2024 has largely exceeded many people's expectations, although challenges remain for first-time buyers due to house prices increasing and a testing rental market for many. Regional disparities, such as the North-South divide, also continue to influence housing accessibility and affordability for many buyers in pockets of the country.
Intergenerational lending
MoneyAge News Editor, Michael Griffiths, hosts Family Building Society BDMs, Amar Mashru and Arif Kara, to discuss intergenerational lending and explore ways that buyers can use family income to help increase their borrowing capacity when applying for a mortgage
Helping landlords make their cash work harder
MoneyAge Editor, Adam Cadle, talks to Family Building Society BDMs, Arif Kara and Nathan Waller, about the resilient BTL market, the wide variety of landlords that Family Building Society caters for, and how niche products like an Offset mortgage can help improve cashflow.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories