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UK's sale of RBS shares was 2.4 times covered -source

Reuters - UK Focus

LONDON, Aug 4 (Reuters) - The UK government's sale of shares in Royal Bank of Scotland (LSE: RBS.L - news) on Monday was 2.4 times covered by potential investors, a person familiar with the matter said.

UK Financial Investments, the body that holds the government's RBS stake, sold 2.1 billion pounds ($3.3 billion) of RBS shares after the market closed on Monday at 330 pence per share. It sold 5 percent more shares than planned due to robust demand.

The source said about 40 percent of the investors who bought the shares were long only funds. ($1 = 0.6411 pounds) (Reporting by Steve Slater, editing by Sinead Cruise)