Government cuts stake in NatWest after selling £1.13bn-worth of shares back to bank

The Government has reduced its stake in Natwest Group – formerly RBS – from 61.7% to 59.8% after selling £1.13 billion-worth of shares back to the bank.

Library image of a branch of NatWest.

The 591 million shares were bought at 190.5p-a-share and is the third sale as part of Government efforts to reduce the state’s shareholding in the bank, which it took during the height of the financial crisis.

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The transaction was approved by Chancellor Rishi Sunak and managed in an off-market purchase by the UK Government Investments (UKGI) division. The Government initially paid 440p-a-share for its stake in 2008.