It’s set to happen early next year
George Osborne seems to be sticking with the plan of selling the public’s remaining shares in Lloyds Bank and has revealed the selloff will happen in the spring.
Next Spring we’ll make Lloyds shares available to every member of the public. We’ll build a share owning democracy. https://t.co/DKYoOMS1br
— George Osborne (@George_Osborne) October 5, 2015
The government plans to make it possible for members of the public to buy shares in Lloyds and will be running TV, print and digital advertisements nearer the time.
“The government will be making shares in Lloyds Banking Group available for sale to the general public in spring next year, as part of its plan to fully exit from its stake in Lloyds Banking Group in the coming months,” the government said.
“At least £2 billion of shares will be available for sale to people located in the UK. Those applying to invest less than £1,000 will be given priority.”
The public will be offered a discount of 5% of the market price, according to the government, which hopes to make it an attractive proposition for ordinary people with a bit of money to invest. Investors who hold their shares for more than a year will receive a bonus share for every 10 shares they buy, up to a value of £200.
You can register your interest here.