World Economy

Lloyds Share Offer

Lloyds Share OfferLloyds Share Offer

The British government is planning to sell at least £2 billion ($2.66 billion) of Lloyds Banking Group plc shares to the general public by way of a share offer. This will form part of the re-privatization of Lloyds, Hargreaves Lansdown, a stockbroker in UK reported. The Lloyds Share Offer was expected to take place in 2016. However, following the Britain’s EU referendum result, this is now uncertain. Final details will be confirmed when the Lloyds share offer opens but so far the government has indicated that applications of up to £1,000 will be prioritized and the shares will be offered at a discount of 5% to the market price.