5th Oct 2015 06:25
LONDON (Alliance News) - The UK government on Monday said it will launch a retail sale of shares in Lloyds Banking Group PLC in the spring of next year, continuing its push to return the bank to public ownership.
HM Treasury said it is the intention of the 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.
By Sam Unsted; [email protected]; @SamUAtAlliance
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