|Bid||197.00 x N/A|
|Ask||197.35 x N/A|
|Day's range||192.10 - 204.90|
|52-week range||1.97 - 208.30|
|Beta (5Y monthly)||1.66|
|PE ratio (TTM)||N/A|
|Earnings date||30 Jul 2021|
|Forward dividend & yield||0.03 (1.53%)|
|Ex-dividend date||25 Mar 2021|
|1y target est||394.43|
(Bloomberg) -- The U.K. government is preparing to sell more than 1 billion pounds ($1.4 billion) of shares in NatWest Group Plc, further reducing its stake in the lender it bailed out during the 2008 financial crisis.The Treasury said Monday it plans to place 580 million shares, representing approximately 5% of NatWest’s overall stock, through an accelerated bookbuild. This will take the government’s stake down to 54.8%. A term sheet seen by Bloomberg News said the offering is valued at about 1.14 billion pounds. Shares in NatWest fell as much as 4% after Sky News earlier reported that Goldman Sachs Group Inc., which is advising the government on privatizations, has begun to sound out institutional investors about a possible disposal.The news comes two months after the Treasury sold 1.13 billion pounds-worth of stock to the bank, reducing its holding for the first time in almost three years. That sale took place at 190.5 pence per share.Barclays Plc, Citigroup Inc., Goldman Sachs and Morgan Stanley have been appointed to act as joint bookrunners on the sale, according to the statement. (Adds confirmation of sale from first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
LONDON (Reuters) -The British government kicked off the sale of a further stake in taxpayer-backed NatWest Group, edging it a step closer to private ownership more than a decade since its rescue in the financial crisis. The Treasury said it plans to sell around 580 million shares, amounting to a 5% stake, reducing its ownership to 55%. NatWest has remained majority state-owned following a 45 billion-pound ($63.65 billion) bailout in 2008.
Still reeling from the uncertainty surrounding Brexit, bankers and investors in Scotland are now facing the prospect of ‘Scexit’ – a split from the UK – following the Scottish National Party’s fourth victory in the Holyrood elections. In a dramatic weekend for UK politics, Nicola Sturgeon said there is “no democratic justification whatsoever for Boris Johnson or anyone else seeking to block the right of the people of Scotland to choose our future”, leaving financiers asking themselves if they are ready for a break-up that could make Brexit feel like an appetiser. Citigroup has predicted a 35pc chance of Scottish independence in the next decade, warning after polls pointed to the pro-independence party’s victory that “the makings of the UK’s next major political melodrama – ‘Scexit’ – seem now to be broadly in place” with acrimony between Westminster and Holyrood set to grow. Boris Johnson, who told The Telegraph last week that he would reject calls for an “irresponsible and reckless” referendum, sought to capitalise on Sturgeon’s failure to win an outright majority by inviting her to a summit to save the union over the weekend. Sturgeon immediately called for another referendum. She said any attempt to block the move would demonstrate that “Westminster no longer sees the UK as a voluntary union of nations” which in itself would be a “powerful argument” for independence. Credit Suisse’s UK economist Sonali Punhan argues that independence could have “significant consequences for Scotland’s public finances, trade and banking system”. “A rising risk of Scottish independence, and consequent uncertainty over Scotland’s future currency arrangements, will consequently lead to rising financial stress and turbulence within the UK, especially given Scotland’s large financial sector. That may render UK assets less palatable to international investors,” she warned.