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UK Lowers Stake in NatWest, Sells $1.56 Billion in Shares

05/11/2021 06:57

10:42 AM EDT, 05/11/2021 (MT Newswires) -- The British government said Tuesday it has sold 1.1 billion pounds ($1.56 billion) in NatWest (NWG) equity, reducing its stake in the lender to about 54.8% from 59.8%.

Approximately 580,000 shares were sold at a price of 190 pence per share in the latest offering, according to state-owned firm UK Government Investments.

Settlement of the shares is expected to occur on May 13.

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