Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Lloyds asked to draw up plans for £19bn gov’t stake sale

Lloyds asked to draw up plans for £19bn gov’t stake sale

Lloyds Banking Group has been asked to draw up plans for a £19 billion sale of the government’s stake in the bank, according to Sky News.

UK Financial Investments, which manages the government’s banking stakes, has written to the Lloyds board asking it to write a prospectus to accompany a share sale to the public, Sky said.

The Treasury is understood to want to offload a large portion of its 33% stake in the bank this year, although the timing of a sale has not yet been decided, Sky cited an insider as saying.

An announcement about the new sale is not expected until after Lloyds’ full-year results at the end of next month.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Play CIO Tapes: do investors have it as good as it gets?

CIO Tapes: do investors have it as good as it gets?

Citywire gathered three of the UK's leading fund investment heads to discuss what they fear and what makes them cheer about the year ahead

Read More
Your Business: Cover Star Club

Profile: Rathbone's Newcastle boss on the road to £1bn

Profile: Rathbone's Newcastle boss on the road to £1bn

Starting from zero assets on day one, Rathbone's Newcastle team now looks after just over £400 million in clients money

Wealth Manager on Twitter