Govt announces £2bn Lloyds retail share sale
The government will be making shares in Lloyds Banking Group available for sale to the general public in spring next year, as it plans to "fully exit from its stake in Lloyds Banking Group" in the coming months.
Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in C:\inetpub\wwwroot\2025.financialreporter.co.uk\htdocs\templates\front-end\partials\article_blockquote.php on line 2
At least £2 billion of shares will be available for sale to people located in the UK, with those applying to invest less than £1,000 given priority.
Members of the public will be offered a discount of 5% of the market price. Investors who hold their shares for more than a year will receive a bonus share for every 10 shares they buy, up to a value of £200.
The government said that all proceeds from share sales will be used to pay down the national debt.
The total amount raised from the trading plan currently stands at £14.5 billion and has reduced the government's shareholding to below 13%.
The government held a 43% stake in Lloyds after bailing out the bank for £20bn after the financial crisis.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Lloyds
Lloyds Banking Group launches £5,000 deposit mortgage
Mortgage Rates
Barclays relaunches sub-4% mortgage rate
FCA
FCA bans and fines director £755,000 for advice and insurance failures
Bank Of England
Bank of England holds interest rates at 3.75% in 8-1 vote
Mortgages
Mortgage affordability at tightest level since 2008: UK Finance
Nationwide
Nationwide cuts mortgage rates by up to 0.36%
