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RBS under pressure from investors to cut Citizens IPO - FT

Reuters

(Reuters) - Royal Bank of Scotland is facing pressure from investors to cut the price of shares it plans to sell in the Citizens Financial IPO, the Financial Times reported, citing two people familiar with the deal.

RBS, is expected to sell 140 million shares in Citizens at between $23 and $25 each in the New York IPO.

The listing is expected to price later on Tuesday.

RBS, which is 80 percent owned by the British government, is hiving off the 186-year-old Rhode Island-based bank under pressure from regulators and lawmakers to bolster its capital and focus on lending to UK households and businesses.

RBS declined to comment on the report.

(Reporting by Supriya Kurane in Bangalore; Editing by James Dalgleish)