View the article online at http://citywire.co.uk/wealth-manager/article/a722951
Autumn Statement: Lloyds sale to be offered direct to public
by David Campbell on Dec 05, 2013 at 13:29
The government is hoping to build on the enthusiastic reception of the Royal Mail to public trading by examining how to maximise the number of private investors able to take part in a sale of Lloyds.
Following the feel-good factor of the rapid appreciation of shares in Royal Mail after it listed in the autumn, the Autumn Statement said: ‘The government would like to give the British public the opportunity to participate directly in future sales when the time is right’.
Private investors hoping for a repeat of the near 100% appreciation of Royal Mail to 599p per share may be disappointed however.
‘[The] overriding concern is to ensure the taxpayer gets value for money for the sale of the shares,’ the document added.
The treasury did not provide any further information on the potential scale or timing of its remaining stake in the bailed-out bank.
A previous sale of 15% of the publically-owned business in September was targeted at institutional investors.
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