UK Government Investments to Sell 5% of NatWest Shares

By Adriano Marchese

UK Government Investments Ltd. said Monday that it intends to sell a part of the U.K. government's share in NatWest Group PLC, while still maintaining a majority stake in the company.

The UKGI--which operates as the government's center of expertise in corporate finance and governance--said it expects to sell around 580 million shares, representing around 5% of the company shares.

The price of the shares will be determined at the end of the bookbuild process, the UKGI said. However, at Friday's closing price of 200 pence a share, the value of the stake is worth around 1.16 billion pounds ($1.62 billion).

At the end of the sale, the company expects to have around 54.8% of the issued share capital of NatWest.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

05-10-21 1206ET