Lloyds Banking to Sell 57.5 Million Ordinary Shares in TSB
September 25 2014 - 01:04PM
Dow Jones News
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
Lloyds Banking (NYSE:LYG)
Historical Stock Chart
From Feb 2024 to Mar 2024
Lloyds Banking (NYSE:LYG)
Historical Stock Chart
From Mar 2023 to Mar 2024