Lloyds sell-off to be accelerated via retail investors

George Osborne has announced the sale of a further 1% of Lloyds shares and plans to include retail investors in the next stage of returning the company to the private sector.

Lloyds sell-off to be accelerated via retail investors


The trading plan will continued for at least another six months, the Chancellor said. Retail investors will be invited to take part at some point in the next 12 months.

The latest £3.5bn in sales brings the total from the trading plan to over £10.5 billion, and reduces the government’s stake in the bank to below 19%.

Shares have been sold through the plan for an average price of over 80p, above the 73.6p the government paid for the shares.

Morgan Stanley will continue to act as broker for the Treasury.

“The trading plan has been a huge success, with almost £3.5 billion raised for the taxpayer so far,” Osborne said. “The government remains committed to restoring Lloyds to private ownership in a way which gets the best value for the taxpayer.”

The Chancellor has committed to selling at least a further £9bn of Lloyds shares in 2015-2016.