House of Commons · Written Ministerial Statement
Financial Services
18 November 2024 · Treasury
Proposed by Tulip Siddiq Lab Hampstead and Highgate
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- The government disposed of 1 billion worth of NatWest Group shares, equivalent to about 3.2% of the company.
- The sale was completed on November 11, 2024, to efficiently use excess capital.
- The government aims to return its entire NatWest shareholding to private ownership by 2025-26.
Issue summary
The statement updates the House on the disposal of £1 billion worth of government-owned NatWest Group shares, representing approximately 3.2% of the company.
Action requested
The government has sold a portion of its stake in NatWest to efficiently deploy excess capital and progress towards returning the shareholding to private ownership by 2025-26. The sale concluded on November 11, 2024, with approximately £1 billion proceeds.
Key facts
- Government's remaining shareholding represents approximately 11.4% of voting rights in NatWest.
- Total shares sold to NatWest: c.262.6m shares.
- Share price at market close on 08/11/2024: 380.8p.
- Net sale proceeds from the transaction: £1bn.
- Public Sector Net Debt reduced by £1bn.
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Assessment & feedback
Summary accuracy