March 26, 2014 / 8:11 AM / 4 years ago

UK's Lloyds share sale was 1.7 times covered -source

LONDON, March 26 (Reuters) - Britain’s sale of a 4.2 billion pound ($6.9 billion) stake in Lloyds Banking Group was 1.7 times subscribed at the sale price of 75.5 pence a share, a person familiar with the matter said.

Half of the 5.6 billion shares sold in the placing went to UK investors, 30 percent went to investors in the United States, 10 percent went to Asian investors and 10 percent went to continental Europe, the source said.

Britain sold the 7.8 percent stake in Lloyds to cut its stake in the country’s largest retail bank to under 25 percent and put it on course for a complete exit in the next year at a profit.

$1 = 0.6059 British Pounds Reporting by Steve Slater; Editing by Alexander Smith and Chris Vellacott

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below