Northern Rock customers rush to sell shares
Thursday 02 October 1997
The rush has been prompted by unexpectedly high prices in an initial auction on Tuesday, when more than 350,000 members sold 190 million shares, yielding windfalls of pounds 2,260 each. Some analysts are predicting that small shareholders may miss out as institutions, convinced that takeovers will push up share prices, snap up the windfalls. But NatWest stockbrokers is urging investors to sell, claiming Northern Rock is vulnerable to interest rate rises.
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