Mon, 22nd May 2023 07:02
(Sharecast News) - The UK government has cut its stake in NatWest Group to 38.6% via £1.26bn off-market buyback deal.
NatWest will buy 469,200,081 shares at 268.4 pence each, the closing price on May 19. The government previously held 41.4% in the bank.
It has been steadily reducing its stake after holding 84% at the peak of its ownership following a taxpayer bailout during the financial crisis of 2008 caused by malfeasance in the sector.
Reporting by Frank Prenesti for Sharecast.com
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Natwest (NWG)