LONDON (dpa-AFX) - The U.K.'s HM Treasury announces that a retail sale of Lloyds Banking Group (LYG, LLOY.L) shares will be launched next spring, with applications available online and by post.
It is the government's intention to fully exit from its Lloyds shareholding in the coming months, and as part of this at least 2 billion pounds of shares will be sold to retail investors.
The HM Treasury stated that Members of the public will be offered a discount of 5% of the market price, with a bonus share for every 10 shares for those who hold their investment for more than a year. The value of the bonus share incentive will be capped at 200 pounds per investor. People applying for investments of less than 1,000 pounds will be prioritised.
All proceeds from share sales are used to pay down the national debt.
Military personnel and their spouses stationed overseas will be able to participate in the sale, where possible.
Copyright RTT News/dpa-AFX