London, UK – The British government has reduced its stake in NatWest Group by selling £1.24 billion worth of shares, lowering its holding from 26% to 22.5%. NatWest bought back 392.4 million shares from the government at a price of 316.2p per share.
As of March 2024, the government ceased to be a majority shareholder in NatWest. According to Reuters, the government plans to continue selling shares in the market until August 2025.
This transaction comes shortly after NatWest faced significant backlash due to a major outage on their mobile app during the UK bank holiday weekend, causing inconvenience for many customers