The U.K. government is planning a £5 billion share sale for Royal Bank of Scotland (RBS), The Telegraph reports. The shares are likely to be offered to institutional investors and sovereign wealth funds from the Middle East and Far East.
The government, which owns an 83% stake in the bank, is expected to sell around a 13% RBS stake. The sale will be rolled out by U.K. Financial Investments, the body set up by the Treasury to look after the government’s stakes in RBS and Lloyds Banking Group.
Click here for the story from The Telegraph.