NatWest's primary stakeholder is no longer the UK government

According to the finance ministry on Monday, the British government has lowered its ownership position in NatWest, the bank it bailed out during the height of the global financial crisis, to less than 30%.

Following the sale of more stock to institutional investors in accordance with the government's trading strategy, the government's ownership stake in the erstwhile Royal Bank of Scotland fell below 30%. There was a time when the state owned 84% of the bank.

The government is intending to sell a portion of NatWest's equity to the public as early as June in an effort to hasten the company's return to private ownership by a target date of 2026.

Certain constraints on director nominations are loosened as the government is no longer considered a controlling stakeholder under UK listing regulations due to the fall below 30%.

In an attempt to move forward with privatisation, NatWest this week wrote to its shareholders requesting permission to repurchase up to 15% of its shares from the government, up from the previous ceiling of 5%.

(Sources: investing.com, reuters.com)