LONDON: Britain’s finance ministry said that it would launch a sale of shares in Lloyds Banking Group LLOY.L to private retail investors in the next 12 months.
The government also said it would extend a trading facility enabling it to sell more shares in Lloyds until the end of the year.
Lloyds was bailed out at a cost of 20 billion pounds ($30.59 billion) to taxpayers during the 2007-9 financial crisis, leaving the government holding a 41 percent stake in the bank. It now owns 18.99 percent following a series of share sales.
