皇冠体育app

皇冠体育app Chancellor has today (17 December 2014) set out the next stage in the government鈥檚 plan to return Lloyds Banking Group to private ownership and get taxpayers鈥� money back, by announcing that the government will sell part of its remaining shareholding in the firm through a trading plan.

皇冠体育app government received today that it would be appropriate to sell another part of the government鈥檚 shareholding in Lloyds through a trading plan. 皇冠体育app government agrees with that advice and has authorised the plan to be put in place.

皇冠体育app government remains committed to restoring Lloyds to private ownership in a way which gets the best value for the taxpayer, building on the success of previous share sales which have so far raised 拢7.4 billion. Shares will only be sold where this objective is met.

皇冠体育app Chancellor George Osborne said:

I can confirm today that the government is taking the next step in returning Lloyds Banking Group to private ownership.

皇冠体育app trading plan I鈥檓 initiating today is made possible by our long term economic plan which is delivering a more secure and resilient economy. It is another step in reducing our national debt and in getting taxpayers鈥� money back.

A trading plan involves gradually selling shares in the market over time, in an orderly and measured way. 皇冠体育app trading plan has been initiated today and sales may commence in the coming days. 皇冠体育app plan will be in place for approximately six months.

Shares will not be sold below the average price the previous government paid for them, which was 73.6p. 皇冠体育app previous sales of the government鈥檚 shares in Lloyds have raised 拢7.4bn, reducing the government鈥檚 stake in the bank from around 40% to just under 25%.

Morgan Stanley will act as broker on behalf of HM Treasury to execute the trading plan.

More information on shares and other forms of investment is available from the .