Britain’s new government has sold off another chunk of shares in NatWest Group PLC (LSE:NWG), taking the public’s stake in the bank from 18.99% to 17.97%.
This means the government’s stake has been cut by more than half over the course of 2024, ahead of plans for a full exit over the coming year.
Chancellor Rachel Reeves scrapped plans last month to ditch a large stake through a retail sale, noting the move would not provide value for money at the time.
Instead, the stake, taken after a bailout of NatWest during the 2008 financial crisis, has continued to be disposed of gradually, with the government losing its spot as a controlling shareholder in March.
“We welcome the chancellor’s commitment last month to returning NatWest Group to full private ownership,” a spokesperson from the bank said.
“This is a shared ambition that we believe is in the best interests of both the bank and all our shareholders.”