Yesterday, HM Government’s UK Financial Investments (UKFI) sold 6% of the shares held in Lloyds.The price obtained was 75p a share, raising £3.2bn for HM Treasury. The disposal cuts the government’s stake in Lloyds from 38.7% to 32.7%.
[https://www.gov.uk/government/news/government-begins-sale-of-its-shares-in-lloyds-banking-group]
Interesting to read the press release from HM Treasury.
“A profit has been made from the sale, which will be used to pay down the national debt…….The money will be used to reduce the national debt by over half a billion pounds”
Makes a change to see a reduction in the UK National Debt.