HM Treasury
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Lloyds share sales raise over £13 billion for the taxpayer
Government sells a further 1% shareholding in Lloyds Banking Group.
Chancellor of the Exchequer, George Osborne said:
It’s fantastic news that we’ve sold more shares in Lloyds Bank, taking the total recovered to over £13 billion.
I am determined to build on this success, and to continue to return Lloyds to the private sector and reduce our national debt.
A trading plan involves gradually selling shares in the market over time, in an orderly and measured way. The trading plan was launched on 17 December 2014 and will end no later than 31 December 2015.
As required by Financial Conduct Authority (FCA) rules, Lloyds Banking Group announced today (Thursday 16 July) that the government’s shareholding in the bank has crossed through a one percentage point threshold.
This announcement therefore notifies the market that the government has reduced its shareholding in Lloyds to below 15%