The chancellor is offering ‘very generous’ terms for smaller investors,particularly whether the bank starts to pay dividendsDuring the election campaign David Cameron pledged a discounted retail offering for the shares, although the amount being earmarked for the sell off – £2bn – is half that promised. The timing of the announcement, or ahead of the speech by George Osborne at the Conservative party conference,was regarded as political by City analysts. It also became easier after the Financial Conduct Authority announced on Friday it was considering a spring 2018 deadline for payment protection insurance claims, which would allow Lloyds to estimate its eventual claims bill. At £13.6bn so far, and it already has the biggest tally of any PPI seller. Related: Lloyds Bank shares to be offered cut-price to the public Continue reading...
Source: theguardian.com