-
Government extends trading plan to sell part of its
shareholding in NatWest Group for another 12 months
-
This represents continued progress in meeting the
government’s aim to return its shareholding in NatWest Group
to private ownership
-
So far approximately 703.5m shares have been sold through the
trading plan, raising approximately £1.6bn for the taxpayer
A trading plan involves selling shares in the market through an
appointed broker in an orderly way at market prices over the
duration of the plan. The current trading plan which began on 12
August 2021 has been extended for a further 12 months from 12
August 2022, with sales terminating no later than 11 August 2023.
Extending the trading plan supports the government’s intention to
return NatWest Group to full private ownership by 2025-26, after
acquiring the shareholding as a result of the global financial
crisis. The government currently has a c. 48.5% shareholding in
NatWest Group and will only dispose of its NatWest Group
shareholding when it represents value for money to do so and
market conditions allow.
Since it was established, the government has sold approximately
703.5 million shares through the trading plan raising
approximately £1.6 billion proceeds for the taxpayer.
Shares will continue to only be sold through the trading plan at
a price that represents value for money for taxpayers. There is a
cap on the total number of shares that could be sold through the
trading plan (up to 15% of the aggregate traded volume over the
extension period). The final number of shares sold will depend
on, amongst other factors, the share price and market conditions
throughout its duration.
HMT and UK Government Investments continue to keep all options
and timings under review for future sales. Extending the trading
plan does not preclude government from using other options to
execute future transactions that achieve value for money for
taxpayers, including further directed buybacks and/or accelerated
bookbuilds.
Further information
