Member Article

TSB share price set between £2.20 and £2.90

Lloyds Banking Group has set the price range of its IPO for TSB shares at £2.20 to £2.90 per ordinary share.

The bank group announced in May that it would sell 25% of its TSB Banking Group business to satisfy European Commission rulings.

Lloyds is expected to offer 125 million ordinary shares as part of the offer and final pricing is due to be confirmed on June 20 - the same day shares will launch on the London Stock Exchange.

Lloyds plans to sell the 25% by the end of 2015.

This was posted in Bdaily's Members' News section by Tom Keighley .