Citigroup could be holding up to $370m of stock in Centrica, the owner of British Gas, after a block trade is understood to have failed to attract enough investors.

Citi on Wednesday priced $932m of Centrica stock on behalf of Petronas, the Malaysian state-owned oil company, which decided to sell its 4% stake in the firm. The deal opened at 15:45 GMT on the London Stock Exchange. Citi priced the deal at £2.945.