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      Lloyds – the biggest privatisation in 20 years

      9 October 2015 by Ashton Carter

      Ashton Carter
      Lloyds

      Ever considered investing in shares? Now might be your chance.

      The Government have announced that they will be selling £2bn worth of shares in Lloyds bank, with incentives being offered to private investors.

      At the peak of the financial crisis back in 2008, Lloyds was given a £20.5bn bailout, granting the Government a 43% share in the company.  Over the years, the Government’s shares in Lloyds have gradually been sold and currently only a 12% stake in the company remains.  This newly-announced sale is the beginning of the final steps needed to remove the Government from the bank’s list of shareholders.

      George Osborne described the sale at the Conservative party conference as the “biggest privatisation for 20 years” in reference to the privatisation of British Telecom and British Gas.  He went on to say that the proceeds of the sale would be used to reduce the national debt.

      In order to avoid these shares falling into the hands of City institutions, incentives are being offered to members of the public to encourage them to invest.  Private individuals will be offered a 5% discount on market price, with small investors seeking shares worth less than £1,000 being given priority.

      Bonus shares will also be given to those who keep their shares for 12 months without selling.  One bonus share will be issued for every 10 shares owned, with the value of the bonus shares being capped at £200.

      The sale won’t commence until Spring 2016, however a website will be launched next week which the public can use to register their interest in the shares.

      If you need advice relating to the purchase or sale of shares in a company, or any other commercial advice generally, please contact our Corporate and Commercial Department on 01245 584515 or [email protected]

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