August 2, 2014

TSB IPO confirmed with free shares offer

Lloyds Banking Group has confirmed that a TSB IPO will happen next month with a prospectus to be issued during mid-month. Lloyds will sell approximately 25pc of retail lender TSB during the IPO.

The TSB IPO will also be open to retail investors and will include a free shares offer.

Free shares will be distributed to these shareholders with up to £2,000 invested in the company in the 12 months following flotation. The free shares bonus will be equivalent to an additional 5%.

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