Lloyds Stake Sale Yields £3.2 Billion For Taxpayers

The U.K. government sold about 6 percent in its first sale of its stake in Lloyds Banking Group PLC (NYSE:LYG) (LON:LLOY) shares, generating £3.2 billion. The long-awaited share sale scheme would facilitate claw-back of the public funds used to rescue Lloyds Banking Group PLC (NYSE:LYG) (LON:LLOY) during the financial crisis five years ago. UKFI Oversee The Stake UK Financial Investments Ltd oversees the government stake. In a statement issued today, the London-based body indicated that it sold 4.28 billion shares for 3.2 billion pounds. The shares were priced at 75 pence, a 3.1 percent discount to yesterday’s closing price. However, the…