Dear visitor,
You're reading 1 of your 3 free news articles this quarter
Register with us for free to get unlimited news, dedicated newsletters, and access to 5 exclusive Premium articles designed to help you stay in the know.
Join the UK's leading credit and lending community in less than 60 seconds.
NatWest trading plan extended
The government has said NatWest is on track to return to private ownership as it announces a two-year extension to its trading plan.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
This extension, which took place today (3 April), will ensure the plan will be in place until August 2025 - and involves the sale of shares in the market through an appointed broker over the duration of the plan.
Economic secretary to the treasury Andrew Griffith said: “We are determined to return NatWest to full private ownership. Today’s extension marks another significant milestone in delivering this – ensuring we achieve best value for the taxpayer as we sell down the shareholding.”
The government’s current shareholding in NatWest currently stands at around 42%, which it has said it will only dispose of when it represents value for money to do so and market conditions allow.
A series of share sales returned the bank to majority private ownership last year.
The bank was bailout out at the height of global financial crisis, with the government having as much as an 84% stake in the business at its peak.
Stay up-to-date with the latest articles from the Credit Strategy team
ENJOY READING?
member of
Get the latest industry news
Permission Statement
