Government hopes of strong demand for Lloyds Banking Group shares have risen after an intermediary said that it had received more than 120,000 expressions of interest in the three days since the proposed sale was announced.
Hargreaves Lansdown, the retail broker, said that the level of interest was “tremendous” and the number of people registering an interest exceeded the 100,000 who bought Royal Mail shares through it in 2013.
George Osborne announced on Monday that he had earmarked at least £2 billion of Lloyds shares for a retail sale next spring, with small investors being wooed with the promise of a 5 per cent price discount and an extra loyalty share for every ten purchased and held for 12 months.
The government is hoping to