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
Detectives investigating the Parsons Green terrorist attack have arrested a 17-year-old boy in Thornton Heath, south London.
Speaking to ITV News Foreign Office minister Tobias Ellwood said education was the greatest weapon in the fight against extremism.
A review of the law is being considered after a cyclist who crashed into and killed a mother-of-two was convicted using a Victorian law.