UK govt cuts stake in NatWest via £1.26bn buyback

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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