Lloyds Banking Group: Re-Floatation Begins

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.

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