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Shares in the bank slumped on the news. The sale was done at a price 5% below where NatWest was trading at the end of last week. UK government sells £1.1bn stake in NatWest
UK Government Investments (UKGI), the state-owned company that controls the shares, said the they were priced at 190 pence, 4% below Monday's closing price of 197 pence. NatWest has been majority ...
The move was poorly received in the London financial markets and NatWest's share price fell substantially. [36] Seen as a driver of the ill-advised investment banking expansion, Derek Wanless was forced to resign as chief executive following the appointment of Sir David Rowland (who became executive chairman). [37]
Subsequently, with a slumping share price and major loss of confidence, the bank fell sharply in the rankings, although in 2009 it was briefly the world's largest company by both assets (£1.9 trillion) and liabilities (£1.8 trillion). [6] It was bailed out by the UK government via the 2008 United Kingdom bank rescue package. [7]
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In 2011, the shares were worth 19 pence, representing a taxpayer book loss of £26 billion. Historically, the Royal Bank of Scotland stock price went from a high of over 6,900 pence in early 2007 (taking into account a 3 for 1 reverse stock split that took place later that year) to around 120 pence February 2009 and up to 187 pence by December ...
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NatWest Holdings Limited [1] is an intermediate holding company for the NatWest Group's retail banking interests in the United Kingdom. The company was established in 2016, as part of a structural reform intended to comply with the requirements of the Financial Services (Banking Reform) Act 2013.