Lloyds will price its initial public offering of TSB at between 220p and 290p per ordinary share, with the float set for 20 June.
The IPO, which will give TSB a market cap of approximately £1.275bn, will see 125m shares allotted, equivalent to 25% of TSB’s existing ordinary shares. The price is below TSB’s net asset value of £1.6bn,...
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