U.K. government sells another chunk of NatWest Group shares for $1.57B (NYSE:NWG)

The U.K. government on Monday reduced its stake in NatWest Group (NYSE:NWG) to ~38.6% in its sixth sale of the bank’s shares since the government acquired majority ownership of the bank after the 2008 financial crisis.

The U.K. Treasury, which had owned as much as 84% of the bank’s shares, plans to fully divest its shareholding by 2025-2026. NatWest (NWG) paid 268.4 pence per ordinary share, or ~£1.26B (US$1.57B), for 469.2M shares through a directed buyback.