U.K. to Speed Sale of $17 Billion NatWest Stake by Trading Plan
- Year-long program to sell shares gradually to start in August
- Government is NatWest’s biggest shareholder after bailout
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The U.K. government will sell more of its 12.5 billion-pound ($17 billion) stake in NatWest Group Plc over the next year, potentially returning the bank to majority private ownership for the first time since the financial crisis.
U.K. Government Investments Ltd., the body that oversees state holdings, said sales on the open market could start as early as Aug. 12 and will end no later than Aug. 11, 2022, according to a statement Thursday. No more than 15% of the aggregate total trading volume in NatWest will be sold over the duration of the pre-arranged trading plan.