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Britain to launch Lloyds retail share offer in next 12 months

Reuters - UK Focus

LONDON, June 1 (Reuters) - Britain's finance ministry said on Monday that it would launch a sale of shares in Lloyds Banking Group to private retail investors in the next 12 months.

The government also said it would extend a trading facility enabling it to sell more shares in Lloyds until the end of the year.

Lloyds was bailed out at a cost of 20 billion pounds to taxpayers during the 2007-9 financial crisis, leaving the government holding a 41 percent stake in the bank. It now owns 18.99 percent following a series of share sales. (Reporting by Matt Scuffham, editing by Sinead Cruise)