UK Government Considers NatWest Retail Offer
22 Novembro 2023 - 11:07AM
Dow Jones News
By Elena Vardon
U.K. finance chief Jeremy Hunt said the government will explore
selling down its stake in British lender NatWest through a retail
share offer over the coming year.
The government owns a 38.69% stake in NatWest. In May, the
Treasury sold around 1.26 billion pounds ($1.58 billion) in shares
back to the bank in an off-market purchase bringing its stake down
from 41.4% previously.
The U.K.'s stake in the lender resulted from the government's
2008 bailout of Royal Bank of Scotland, which rebranded as NatWest
in 2020. The government spent GBP45.5 billion of taxpayer money on
the bailout and at one point owned 84% of the bank.
RBS bought NatWest in 2000.
"I will explore options for a NatWest retail share offer in the
next 12 months subject to supportive market conditions and
achieving value for money," Hunt said as part of his U.K. autumn
budget statement on Wednesday.
NatWest shares traded 1.1% lower at 204.8 pence at 1336 GMT,
having dipped to 202.5 pence shortly after Hunt's statement. The
wider FTSE 100 index edges down 0.15%.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
November 22, 2023 08:52 ET (13:52 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
NatWest (NYSE:NWG)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
NatWest (NYSE:NWG)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024