LONDON Dec 10 Lloyds Banking Group
said it raised 680 million pounds from the sale of its remaining
21 percent stake in wealth manager St James's Place,
bolstering its capital to help meet tougher new rules.
Lloyds, which is 33 percent-owned by the government, sold
around 109 million shares at a price of 630 pence per share to
financial institutions, it said on Tuesday.
Lloyds said under full Basel III capital rules the placing
would increase its common equity Tier 1 capital by about 685
million pounds, or 24 basis points. The bank will realise a gain
of about 105 million from the sale.