The UK government's stake in NatWest Group PLC (LON:NWG) has fallen to its lowest level since the bank was rescued in 2008 following the sale of a further chunk of shares.
Some 580mln shares were sold at 190p to institutional investors through a bookbuild, raising £1.1bn and cutting the government's stake to 54.8% from 59.8% or the lowest since the bank, then called Royal Bank of Scotland, was bailed out at cost to the taxpayer of £45bn.
This is the second sale by the government this year with NatWest buying back £1.1bn worth of shares in March.
Earlier in 2021, the government said its aim was to sell its entire stake by 2025-26.
The share price last night was 197p giving it a market value of £22.8bn.