The Chancellor has authorised the sale of 580 million shares in NatWest, raising a total of £1.1 billion.
This is the government’s fourth sale of its NatWest shareholding and the second transaction in two months.
The sale brings its level of ownership down from 59.8 per cent to 54.8 per cent.
The government said that the sale represents further progress in the government’s plan to return institutions brought into public ownership as a result of the 2007-2008 financial crisis to private ownership.
The sale was completed by way of an overnight sale via an accelerated bookbuild, a competitive market facing process that involves selling shares to institutional investors.
The government continues to keep all options and timings under review for future sales.
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