UK government trims Lloyds stake to just under 11%
The UK government has cut its stake in Lloyds Banking Group by a further 1% to just under 11%.
Banks
4,726.97
17:09 18/11/24
0.93%
43.39
FTSE 100
8,109.32
16:35 18/11/24
n/a
n/a
FTSE 350
4,473.50
17:09 18/11/24
n/a
n/a
FTSE All-Share
4,431.13
16:49 18/11/24
n/a
n/a
Lloyds Banking Group
56.24p
16:40 18/11/24
-0.42%
-0.24p
Earlier this week, it emerged that the finance ministry will sell at least £2bn worth of Lloyds shares to private retail investors in the spring of next year as it looks to return the bank to private ownership.
The government provided Lloyds with a £20.5bn rescue package in 2008 which gave it a 43% stake.
In August, Chancellor George Osborne announced that he hoped to sell the government’s stake within 12 months, prompting concerns that he’s rushing to privatise the company at the taxpayer’s expense.