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BUZZ-Citizens Financial Group: RBS exits stake in $2.6 bln block

Reuters - UK Focus

(Updates with public offering price)

** Bank's shares down 1.7 pct premarket as RBS (LSE: RBS.L - news) exits remaining stake in registered block sale

** RBS sells 110.5 mln shares, 21 pct of outstanding, to bookrunners at $23.38 to GS, BAML, CITI and JPM

** Sources cite bookrunners priced offering at $23.50 (bottom of $23.50-$24.00 marketed range), a 2.5-pct discount to CFG's $24.11 closing price on Thurs

** Most recent RBS secondary selldown was priced at $26 in July

** RBS had committed to disposing of its remaining CFG position, over time, by end of 2016

** Citizen's $3 bln IPO, set at $21.50, was last year's second largest after Alibaba

** RBS shares currently down 1.4 pct after British bank posted Q3 loss due to restructuring charges (RM (LSE: RM.L - news) : lance.tupper.thomsonreuters.com@reuters.net)