Fancy some UK govt cast-offs ? Well here's your chance
News just breaking
- UK treasury announces that a retail sale of Lloyds shares will be launched next Spring
- govt plans to fully exit Lloyds stake in coming months
The UK govt took ownership after the Lehman-led crisis but is now trying to shore up its finances by unloading its stake, albeit at a loss to the UK taxpayer
City AM reports:
Retail investors will be able to get their hands on "at least" £2bn-worth of Lloyds Banking Group shares, the government confirmed today.The shares are being offered a discount of five per cent of market price, and those who keep their holding for more than a year will receive a bonus share for every 10 shares they own, capped at £200 per investor. In a bid to encourage as many retail investors as possible, the government said people applying for investments of less than £1,000 would be prioritised.
Military personnel and their spouses stationed overseas will be able to participate in the sale, where possible.
The government currently owns just under 12 per cent of Lloyds, having at one point held a 43% in the lender, when it was bailed out with £20bn of taxpayer cash in the aftermath of the financial crisis. Until now, the government has realised £15bn from releasing the bank's equity back into the market.
City AM has more here
