Ministers could launch a multi-billion pound sale of shares in NatWest as soon as June.
It means the retail offer, open to ordinary investors – and evoking the ‘Tell Sid’ privatisations of the 1980s – may take place before an autumn general election.
NatWest remains 36 per cent owned by the government after it was rescued during the financial crisis.
The Treasury has been gradually selling down its stake. Chancellor Jeremy Hunt first revealed in November that the Government would ‘explore options’ for a retail share offer.
It is part of a plan to dispose of the stake in full by 2025/26. At the same time the share sale aims to revive the public’s interest in investing.
Sell-off: June is seen as a likely summer date, coming after the bank’s first quarter results in April and before its half-year results in July
The Sunday Times reported that the Government has awarded a contract to a market research company to gauge the views of the public while it has also put out tenders to PR firms and advertising agencies to work on the share sale launch.
It said the shares in NatWest, which is still seeking a new permanent chief executive, were expected to be priced at a discount to increase their public appeal.
June is seen as a likely summer date, coming after the bank’s first quarter results in April and before its half-year results in July.
A government spokesman said the share sale was ‘subject to market conditions and achieving value for money’ and that further details would be revealed ‘at the appropriate time’.
