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Govt unveils plans for £2bn Lloyds retail offer

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The Treasury has revealed its plans to offer at least £2bn of Lloyds Banking Group shares to retail investors.

The retail offer will be launched in the spring, with applications available online or by post. The Government says it plans to sell down its remaining stake in Lloyds in the coming months.

Members of the public will be offered a 5 per cent discount on the price of the shares.

Investors who hold on to shares for more than a year will be offered a bonus share for every time 10 owned, up to a maximum of £200 per investor.

Those applying for investments of less than £1,000 will be prioritised. Military personnel and their spouses stationed overseas will also be able to participate in the share sale.

The Government says proceeds from the sale will be used to pay down the national debt.

Interested investors can pre-register and receive email updates about the sale at www.gov.uk/lloydsshares

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