Jul
29
R.B.S. Sells $2.2 Billion in Shares of Citizens Financial Group
By
The Citizens Bank Building in Providence, R.I. CreditStew Milne for The New York Times
LONDON — The Royal Bank of Scotland said on Wednesday that it had sold $2.2 billion in shares of the Citizens Financial Group, an American retail bank, in a larger-than-expected offering as it further reduces its stake in the lender.
R.B.S., which spun off Citizens in an initial public offering last year, said that it had sold 86 million shares at $26 a share, equivalent to a 16 percent stake in Citizens Financial. If an additional overallotment of shares is fully exercised, the sale could amount to as much as $2.6 billion in Citizens Financial stock…
R.B.S. Sells $2.2 Billion in Shares of Citizens Financial Group
