‘Tell Sid’ NatWest share sell-off could possibly be launched this summer season
Ministers might launch a multi-billion pound sale of shares in NatWest as quickly as June.
It means the retail supply, open to bizarre traders – and evoking the ‘Tell Sid’ privatisations of the Nineteen Eighties – might happen earlier than an autumn basic election.
NatWest stays 36 per cent owned by the federal government after it was rescued in the course of the monetary disaster.
The Treasury has been step by step promoting down its stake. Chancellor Jeremy Hunt first revealed in November that the Government would ‘discover choices’ for a retail share supply.
It is a part of a plan to eliminate the stake in full by 2025/26. At the identical time the share sale goals to revive the general public’s curiosity in investing.
Sell-off: June is seen as a possible summer season date, coming after the financial institution’s first quarter ends in April and earlier than its half-year ends in July
The Sunday Times reported that the Government has awarded a contract to a market analysis firm to gauge the views of the general public whereas it has additionally put out tenders to PR corporations and promoting companies to work on the share sale launch.
It stated the shares in NatWest, which remains to be in search of a brand new everlasting chief govt, had been anticipated to be priced at a reduction to extend their public enchantment.
June is seen as a possible summer season date, coming after the financial institution’s first quarter ends in April and earlier than its half-year ends in July.
A authorities spokesman stated the share sale was ‘topic to market situations and attaining worth for cash’ and that additional particulars can be revealed ‘on the applicable time’.
