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
Cancer surgeon accused of conducting series of 'completely unnecessary' operations denies giving cancer-phobic GP an unneeded mastectomy.
Health workers are set to be given a 1% pay rise, the Government has announced.
Facebook app rolls out new Snapchat-like camera features allowing users to create and share 'stories' and add filters and masks to images.