9th Oct 2015 05:58
LONDON (Alliance News) - Some 120,000 people have expressed interest in buying shares in Lloyds Banking Group PLC, the Times reported, in the three days since the UK government announced it will launch a retail sale of shares in the bank, the Times reported.
Retail broker Hargreaves Lansdown said the level of interest was 'tremendous' and exceeded the 100,000 who bought Royal Mail shares through it in 2013.
On Monday, HM Treasury said it is the intention of the UK government to fully exit its shareholding in Lloyds in the coming months, including a GBP2 billion sale of shares to retail investors.
Members of the public will get a 5% discount on the market price of the shares and will get one bonus share for every 10 they hold for more than a year.
All proceeds from the sale will be used to pay down the UK national debt, the Treasury said.
http://www.thetimes.co.uk/tto/business/industries/banking/article4580717.ece
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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