Lloyds increases sale of TSB shares after strong demand

Lloyds Bank has increased the number of shares it is selling in TSB as a result of strong demand from investors.

The bank, a quarter of which is owned by the taxpayer, had initially decided to sell a 25% stake in TSB but has now upped the proportion to 35%.

TSB has been valued at £1.3bn. Credit: Nick Ansell/PA Wire/Press Association Images

The shares have been priced at 260p each, giving TSB a market value of £1.3bn.

Read: Is TSB the John Lewis of financial services?

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Lloyds to increase TSB shares sales after strong demand

Lloyds Bank has increased the number of shares it is selling in TSB as a result of strong demand from investors.