Share Name Share Symbol Market Type Share ISIN Share Description
Lloyds Banking Group LSE:LLOY London Ordinary Share GB0008706128 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 66.54p 66.49p 66.51p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Banks 39,611.0 4,238.0 2.9 22.9 47,565.28

Lloyds Banking Group: UK Government Cuts Stake to 2.95%

15/03/2017 7:46am

Dow Jones News


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By Ian Walker

 

LONDON--Lloyds Banking Group PLC (LLOY.LN) Wednesday said the U.K. government has lowered its shareholding in the bank to 2.1 billion shares, or about 2.95% of its issued share capital.

The U.K. government previously held 2.78 billion shares.

No price was disclosed for the share sale, which was conducted on Tuesday. The government is putting money raised from the sale toward reducing the national debt.

Lloyds, the U.K.'s biggest retail bank, was bailed out by U.K. taxpayers during the financial crisis, with the government taking a 39% stake. The government started selling its shares in the bank in late 2013.

Last October, U.K. Treasury Chief Philip Hammond said the government would begin to sell its remaining 9.1% stake in Lloyds in a piecemeal fashion, after withdrawing a planned retail sale, attributing its decision to market volatility.

 

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

 

(END) Dow Jones Newswires

March 15, 2017 03:31 ET (07:31 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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