U.K. government sells £1.26 billion of NatWest shares, cutting stake to 38.6%
The U.K. government said Monday that it had disposed of its shareholding in NatWest Group through an off-market purchase by the company of 469.2 million ordinary shares for a total consideration of 1.26 billion pounds .
The government said it sold the shares at 268.4 pence a share and that this was the closing price on Friday. It added that the purchase is expected to settle on Wednesday. As a result of the transaction the U.K. Treasury's participation in the company will fall to around 38.6% from a previous 41.4%.The government said that it"will keep other disposal options under active consideration, including by way of accelerated bookbuilds, when market conditions permit."
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