RBS: shares down after State sells stake
(CercleFinance.com) - The British government has successfully completed the sale of approximately 7.
7% of The Royal Bank of Scotland Group by way of an accelerated book-building process to institutional investors, the treasury said in a statement on Tuesday.
The stake is to be sold for a total of 2.5 billion pounds (around 2.8 billion euros), based on a placement price of 271 pence per share, HM Treasury said.
As a result, the HM Treasury shareholding will be reduced from approximately 70.1% of RBS' ordinary share capital to 62.4%.
Following the placement, RBS shares were down 3.2% at 271.9 pence.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
7% of The Royal Bank of Scotland Group by way of an accelerated book-building process to institutional investors, the treasury said in a statement on Tuesday.
The stake is to be sold for a total of 2.5 billion pounds (around 2.8 billion euros), based on a placement price of 271 pence per share, HM Treasury said.
As a result, the HM Treasury shareholding will be reduced from approximately 70.1% of RBS' ordinary share capital to 62.4%.
Following the placement, RBS shares were down 3.2% at 271.9 pence.
Copyright (c) 2018 CercleFinance.com. All rights reserved.