UK Government confirms disposal of £2.5bn RBS stake

Royal Bank of Scotland  Picture: Jane Barlow/PA Wire
Royal Bank of Scotland Picture: Jane Barlow/PA Wire
0
Have your say

UK Government Investments (UKGI) has confirmed it has successfully completed its disposal of a 7.7 per cent stake in Royal Bank of Scotland.

The placing price was 271p per share, which will result in proceeds of £2.5 billion.

It will bring the public holding in the bank down to 62.4 per cent.

READ MORE: Treasury set to offload £2.6bn stake in Royal Bank of Scotland

RBS chief executive Ross McEwan said: “I am pleased that the Government has decided the time is now right to restart the share sale process.

“This is an important moment for RBS and an important step in returning the bank to private ownership.

“It also reflects the progress we have made in building a much simpler, safer bank that is focused on delivering for its customers and its shareholders.”