UK govt plans to sell at least £2b of Lloyds shares to consumers early next year

London

THE British government said it plans to sell at least £2 billion (S$4.3 billion) of Lloyds Banking Group plc shares to households early next year.

The government plans to "fully exit" its Lloyds stake "in the coming months", according to a statement on Monday. Members of the public will be offered a discount of 5 per cent of the market price, with a bonus share for every 10 shares if they hold their investment for more than a year, the government said.