RBS to sell another stake in Citizens
Royal Bank of Scotland (RBS)&nbsp;has moved to sell another 14% stake, or 75mn shares,&nbsp;in Citizens Financial Group, the American retail bank it spun off in an initial public offering last year. RBS could also sell an over-allotment of 11.25mn shares, which if exercised, would take the bank's stake to 24.7%.&nbsp;
LONDON — The Royal Bank of Scotland said on Tuesday that it intended to further reduce its stake in the Citizens Financial Group, the American retail bank it spun off in an initial public offering last year.

R.B.S., which is based in Edinburgh, said it planned to sell 75 million shares of the American bank, equivalent to a 14 percent stake. It could also sell an overallotment of 11.25 million shares, the bank said in a news release.

If the overallotment is fully exercised, R.B.S. would retain a 24.7 percent stake. R.B.S. has a 40.8 percent stake in the bank.

R.B.S. also said that Citizens Financial intended to rebuy a further $250 million in stock at the offering price in a directed buy back.