Royal Bank of Scotland is on the rise following a move to sell a further stake in its US Citizens business, worth some $3bn.
RBS sold a tranche of shares in Citizen in September in an initial public offering, and now it plans to offload 115m more shares - plus an extra 17.25m if there is enough demand.
That amounts to around 24% of the US bank, and will leave RBS with 46.1%. It is expected to reduce its stake to around a third over the course of the year. The news has helped push RBS shares up 2.9p or 0.8% to 359.2p.
This article was written by Nick Fletcher, for theguardian.com on Monday 23rd March 2015 12.17 Europe/Londonguardian.co.uk © Guardian News and Media Limited 2010