Other Citywire websites
Stay connected:

View the article online at http://citywire.co.uk/new-model-adviser/article/a720145

TSB targets £2bn float in 2014

by Alex Steger on Nov 25, 2013 at 07:45

TSB targets £2bn float in 2014

TSB is to float in the first half next year with a valuation between £1.5 billion and £2 billion, with Lloyds Banking Group set to sell down a stake of between 30% and 50%, according to reports.

The Daily Telegraph reported that an institutional roadshow is expected to begin in January as Lloyds’ plans to spin off the 632 branches gather pace.

Lloyds will initially sell down a stake of between 30% and 50% at the time of the float, reducing its stake further over time.

Some shares will be offered to retail investors through a small number of stock brokers, the paper said.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Opportunities emerge as production moves back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

A spotlight on Alastair Mundy


Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.

More about this article:

What others are saying

Archive


Sorry, this link is not
quite ready yet