By Elena Vardon
The U.K government reduced its stake in NatWest Group by further as it nears the completion of its plan to return the bank to private ownership.
The treasury disposed of 69.9 million ordinary shares in the London-based retail and commercial lender, reducing its shareholding to 3.95% from 4.82% previously, regulatory filings showed Tuesday.
It now holds 1.27 billion voting rights in the lender, equal to 318.7 million shares, valued at 1.47 billion pounds ($1.90 billion) based on Monday's closing price of 462.7 pence a share.
The government's stake in the bank resulted from its 2008 bailout of Royal Bank of Scotland, which bought NatWest in 2000 and rebranded the enlarged company as NatWest Group in 2020.
Shares in NatWest have gained 77% in the past 12 months.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
March 25, 2025 06:49 ET (10:49 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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