TSB will offer less than a quarter of its available shares to ordinary members of the public, its boss has said.
ITV News Business Editor Joel Hills reports:
TSB is to list next month. 25% stake in the bank will be sold. Boss says 15 - 20% of shares will go to small (retail) investors.
Paul Pester says TSB will not pay a dividend until 2017 at earliest as all profits will be channelled into growing bank.
More top news
Twitter is to end its video-sharing service Vine.
A Lib Dem peer has quit the party following her suspension for chairing a meeting at which Jews were allegedly blamed for the Holocaust.
A second man has been found guilty for the manslaughter of delivery driver Ali Qasemi who was killed for £52 worth of pizza.