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Bond Market News
UK Government Speeds Planning to Sell Its Stake in NatWest
May 13, 2024
The UK Government is speeding up the plans to reduce its stake in NatWest Group, according to sources. The UK Government currently holds a 28.9% stake in the company, totaling to £8.1bn ($10.1bn) and is planning to dispose of its entire holdings by 2026. The sources added that UK’s ownership of NatWest could fall below 10% this year as a result of the government’s plan to sell shares to retail and institutional investors along with the bank buying back its stock from the government. NatWest’s shares have surged by 46% this year, making it one of the best performing stocks in the FTSE All-Share Banks Index.
NatWest’s bonds were stable with its 7.472% 2026s at 102.6 cents on the dollar, yielding 5.65%.
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