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RBS sale discount belies improving prospects

RBS sale discount belies improving prospects

Royal Bank of Scotland (RBS) has taken another step towards reinstating capital returns to shareholders. The government has undertaken its second share sale, placing 925m shares at 271p apiece via an accelerated book-building process to institutional investors. That was equivalent to a 7.7 per cent holding, reducing the Treasury’s stake to 62.4 per cent.

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