Lloyds shares opened for retail investors
Lloyds Banking Group announced that half of the government's GBP18 billion stakes in Lloyds is expected to be sold to retail investors. The sell-off is estimated to start as early as September of this year as part of the provisional scenario set by officials from the government.
Officials are saying that there is no planned timetable or structure for the sale of the Lloyds stake. The primary driver involved in the sale will generate the best value for the public. It was noted that there would be a political advantage to offer retail investors the chance to benefit from a further rise in the share price of Lloyds.
Due to the costs and complexities involved in the retail share offering, experts are saying that the overall price of the sale to the retail investors should be of significant value, which is in the range of GBP5billion to GBP10 billion. The government is currently considering a range of options for the Lloyds Banking Group, and experts are saying that the final size of the sell-off would depend on institutional placing and market conditions.