Investing.com -- The UK government has reduced its stake in the NatWest Group to less than 8%, moving forward with plans that could see the bank return to private ownership in the upcoming months.
According to regulatory filings on Tuesday, the Treasury sold off 74.3 million ordinary shares in the London-based retail and commercial lender. This sale has brought down its shareholding from 8.90% to 7.98%.
The Treasury now holds 2.57 billion voting rights in the lender, equivalent to 642.6 million shares. Based on Monday's closing price of 422.2 pence a share, these shares are valued at 2.71 billion pounds ($3.39 billion).
This latest reduction is part of the government's ongoing strategy to gradually divest its position in the bank, a process that could be completed as early as the first half of this year.
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