Nationalisation as only 0.24% of shares offered sold privately

Troubled banking and insurance group RBS sold less than 1% of the new shares it offered meaning the UK government from today owns a controlling 58% share of the company.

RBS sold just 55,977,458 new shares, representing approximately 0.24% of the total offered to shareholders.

HM Treasury will take up the remaining 22,853,798,818 new shares, giving it 57.9% of the enlarged share capital of RBS.