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Share Name Share Symbol Market Type Share ISIN Share Description
Natwest Group Plc LSE:NWG London Ordinary Share GB00B7T77214 ORD 100P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.25 -0.63% 197.55 197.55 197.70 200.70 197.50 199.45 6,242,464 14:30:03
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Banks 10,796.0 -434.0 -6.2 - 23,961

UK Government to Sell Entire Majority Stake in NatWest

03/03/2021 3:38pm

Dow Jones News


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By Adriano Marchese

 

The U.K. government said Wednesday that it intends to sell its entire majority stake in banking and insurance company NatWest Group PLC.

The aim of the government is to sell its remaining 61.93% shareholding in the FTSE 100-listed lender, subject to market conditions and achieving value for money for U.K. taxpayers.

In the height of the economic crisis of 2008, the government injected capital into NatWest--then called the Royal Bank of Scotland Group--whose ownership eventually peaked at 84.4%.

Since then, through the process of share sales and diluting share placings, government ownership fell to today's level of 61.93%.

The government expects the sale to be completed between 2025 and 2026.

At 1449 GMT, shares were up 3.8 pence, or 2.1%, at 189.45 pence.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

March 03, 2021 10:23 ET (15:23 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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