Government sale of Lloyds shares pass £15bn

25 Sep 15

The government has sold a further 1% of its shareholding in Lloyds Banking Group, taking the total raised from sales to £15bn.

This further sale was made in line with the trading plan launched last December and takes the government’s shareholding below 12%.

At the height of the 2008/09 banking crisis the state owned just over 40% of the bailed-out bank.

Chancellor George Osborne said he was determined to “continue to return Lloyds to the private sector and reduce our national debt”.

A trading plan involves gradually selling shares in the market over time, in an orderly and measured way.

Under the trading plan the remainder of the Lloyds shares are due to be sold by the end of this year.

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