New British bank TSB will be valued at 1.3 billion pounds or more later this week when it lists on the stock exchange after parent Lloyds Banking Group (LLOY.LN) lifted the minimum share price it will sell shares at to between 250 pence and 270 pence, Reuters reported Tuesday, citing people familiar with the matter.

The business was originally priced at between 220 pence and 290 pence per share, or between 0.7 and 0.9 times its book value, the report said.

Full story at http://www.nytimes.com/reuters/2014/06/17/business/17reuters-lloyds-banking-tsb-banking-grp.html?src=busln&_r=0

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