RBS finds buyers for first 33% stake in Direct Line
RBS has found buyers for the 33% stake in Direct Line it is selling to stock market investors.
Reuters has reported that buyers have been found three days into a nine-day marketing drive.
A price range of 160-195 pence per share was set last week.
Direct Line would be worth £2.66bn at the mid-point of this price range, and worth £2.5bn and £3.5bn at the lower and higher ends respectively.
Order books, which opened on September 28, are due to close on October 10.
A source close to the transaction said: “The book is now fully covered within the range, and to get that done three days in is
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