NatWest to Sell Permanent TSB Shares Via Placing
June 01 2023 - 1:10PM
Dow Jones News
By Michael Susin
NatWest said Thursday that it seeks to sell part of its
shareholding in Permanent TSB Group Holdings, simultaneously with
the Minister for Finance of Ireland, Michael McGrath, via a share
placing to institutional investors.
The U.K. bank said that the selling price will be determined by
way of an accelerated book building process, which will be open
immediately.
The placing is estimated to comprise around 33 million of
Permanent TSB shares, reflecting around 6.0% of the issued share
capital. McGrath and NatWest are both expected to dispose of 3.0%
of share capital each, it added.
Following the placing, McGrath's overall shareholding will be
reduced to 59.4% from 62.4%, while NatWest's shareholding will be
cut to 13.6% from 16.7%.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
June 01, 2023 12:55 ET (16:55 GMT)
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