You are here: Home - Investing - Experienced Investor - News -

Lloyds share sale to retail investors to launch ‘in next 12 months’

Written by: Joanna Faith
The government has said it will launch a sale of Lloyds Banking Group shares to retail investors in the next 12 months.

The Treasury confirmed this morning it had also sold a further 1% of Lloyds shares, taking the government’s stake to below 19%.

The latest Lloyds share sale mean that the government has recovered almost £3.5bn for the taxpayer from the trading plan, bringing the total recovered from Lloyds to over £10.5bn.

The trading plan, launched in December 2014, was due to end no later than the 30 June 2015. The extension announced today means that the plan will now end no later than 31 December 2015.

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

Chancellor George Osborne said: “We’re determined to get on with the job of returning Lloyds to private ownership. That’s why I’m extending the plan for six months so that we can make even more progress in returning money to the taxpayer and paying down the national debt.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
BLOG: Investment trusts should revel in distinctiveness

Some market commentators, and indeed some wealth managers and IFAs, try and make investment trusts look like open-ended funds. They...