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LLOY Lloyds Banking Group Plc

50.38
-0.62 (-1.22%)
Last Updated: 08:40:49
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Lloyds Banking Group Plc 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
  -0.62 -1.22% 50.38 50.36 50.38 50.82 50.28 50.70 9,361,913 08:40:49
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Commercial Banks, Nec 23.74B 5.46B 0.0859 5.87 32.06B

Lloyds Banking to Sell 57.5 Million Ordinary Shares in TSB

25/09/2014 6:04pm

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Lloyds Banking (LSE:LLOY)
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By Tapan Panchal

LONDON--Lloyds Banking Group PLC (LYG, LLOY.LN) said Thursday that it intends to sell a part of its stake in U.K. retail bank TSB Banking Group PLC (TSB.LN) via an accelerated share book-build process.

The FTSE10-listed financial-services company said it intends to sell 57.5 million ordinary shares in TSB. The shares represent 11.5% of the TSB's issued ordinary share capital.

Lloyds said it expects to retain 50% of the issued share capital of TSB after the share sale. It added it doesn't expect the sale to have a material impact on its capital position.

UBS Investment Bank is acting as book-runner in connection with the share placing.

Write to Tapan Panchal at tapan.panchal@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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