The shares were bought back by NatWest.
This is the government's third sale of its NatWest shareholding, bringing it down from 61.7% to 59.8% after cancellation of shares by NatWest.
It represents an important step in the government's plan to return institutions brought into public ownership as a result of the 2007-2008 financial crisis to private ownership.
NatWest bought back c.591 million shares at 190.5p per share, worth a total of £1.1 billion, in an off-market purchase. The process was authorised by the Chancellor Rishi Sunak and managed by UK Government Investments (UKGI).
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