The Government has flogged another chunk of taxpayer-saved Lloyds at a thumping loss.
The Treasury has offloaded nearly 721 million shares in the banking giant over the past month.
The public’s stake now stands at 7.99%, down from 43% at its peak.
Chancellor Philip Hammond last month denied the public the chance to buy cut-price Lloyds shares in a retail offer.
Instead, he is trickling them out on the markets, with most snapped up by big City investors.
The sale is being run by investment bank Morgan Stanley.
However, the last two The Treasury yesterday refused to say how much was raised in the most recent one.
But using Lloyds’ average share price of just under 58p over the past month gives a figure of £418million.
That’s a £113m loss on the 73.6p a share when the taxpayer saved Lloyds during the financial crisis.
The Treasury said the Government had now recovered £17billion of the £20.3bn used to rescue Lloyds, including share sales and dividends.
Hammond said: “Making sure we get back all the cash taxpayers injected is one of my priorities.”
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