9th Oct 2015 06:38
LONDON (Alliance News) - The UK government has sold a further 1% shareholding in Lloyds Banking Group PLC Friday through the trading plan it launched in December, which it said took the total raised so far to GBP15.5 billion.
This reduced the government's shareholding to below 11% to 10.97%. It said that all sales are being used to reduce national debt.
"It's fantastic news that we?ve sold more shares in Lloyds Bank, taking the total recovered for the taxpayer to GBP15.5 billion. I am determined to build on this success by making Lloyds shares available to the public next Spring, so that we can build a share-owning democracy and continue to reduce our national debt," said Chancellor of the Exchequer George Osborne in a statement.
Retail Broker Hargreaves Lansdown said that some 120,000 people have expressed interest in buying shares in Lloyds in the three days since the government announced the retail sale of shares in the bank, the Times reported. The broker said the level of interest was 'tremendous' and exceeded the 100,000 who bought Royal Mail shares through it in 2013, according to a press report.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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