Lloyds Sweetens The Deal For TSB IPO
Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY) announced that it will give investors one free share of TSB for every 20 that they buy at banking unit’s IPO scheduled for next month. Lloyds is required to completely sell its stake in TSB, with 600 retail branches and 4.5 million retail customers, by the end of 2015 as part of the aftermath of the financial crisis and the bank’s 2009 government bailout.
"The decision to proceed with an initial public offering of TSB is an important further step for the group as we act to meet . . .
SORRY!
This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
If you are subscribed and having an account error please clear cache and then cookies if that does not work email support@valuewalk.com and we will get back to you as quick as humanly possible
