The Treasury has announced the £1.1bn sale of part of the government’s shareholding in NatWest Group.
Chancellor, Rishi Sunak, authorised the sale of 580 million shares in NatWest at 190p per share to raise the £1.1bn total. The process was managed by UK Government Investments.
This is the government’s fourth sale of its NatWest shareholding, and second transaction in two months, bringing its level of ownership down from 59.8% to 54.8%.
A government statement said: “This sale represents further progress in the government’s plan to return institutions brought into public ownership as a result of the 2007/2008 financial crisis to private ownership.”
The sale was completed by way of an overnight sale via an accelerated bookbuild, which is a market facing process that involves selling shares to institutional investors.
The Treasury confirmed it is continuing to keep “all options and timings under review” for future sales.
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