UK No Longer Has Controlling Stake in NatWest After Latest Sales [BNN Bloomberg (Canada)]
NatWest Group plc American Depositary Shares (NWG)
Company Research
Source: BNN Bloomberg
The government's stake has dropped to 29.8% after it recently disposed of more shares, according to a filing on Monday. Under the country's listing rules, dropping below the 30% level means an investor is no longer considered a controlling shareholder. The government has been rapidly winding down its stake in NatWest through a series of open market sales in recent months. The bank also repurchased £1.3 billion worth of the shares through a directed buyback in May and last week asked shareholders to approve a plan that would allow it to buy back its stock from the UK government even more quickly as long as regulators simplify the country's listing rules as they plan to do. Read more: UK Seen Exiting NatWest Stake More Rapidly With New Listing Rule Officials are also weighing selling shares it holds in the bank to retail investors as it seeks to offload the entire stake by 2026. “We welcome the government's continued commitment to returning NatWest Group to private ownership” a
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News
- NatWest hits close to £1bn in profit in Q1 2024 [Yahoo! Finance]Yahoo! Finance
- NatWest's Share Price Rises 3% As Q1 Results Top Estimates [Forbes]Forbes
- Morning Bid: Reading BOJ's tea leaves [Yahoo! Finance]Yahoo! Finance
- Morning Bid: Reading BOJ's tea leaves [Reuters]Reuters
- Investing in NatWest Group (LON:NWG) three years ago would have delivered you a 64% gain [Yahoo! Finance]Yahoo! Finance
NWG
Sec Filings
- 4/26/24 - Form 6-K
- 4/26/24 - Form SC
- 4/26/24 - Form 6-K
- NWG's page on the SEC website