RBS slashing Citizens Financial stake

• Citizens Financial Group (NYSE:CFG) launches a 115M share secondary offering of stock to be sold by Royal Bank of Scotland (RBS). The underwriter greenshoe is 17.25M shares.
• The sale will take RBS's stake from 384.7M shares of 70.3% of the company to 269.7M shares or 49.3%. If the underwriters exercise their option, the stake would be whittled to 46.1%.
• Source: Press Release
• Previously: Barron's: More room to run for Citizens Financial (March 21)