Lloyds share sale attracts first-time investors

The government is to sell �2bn of Lloyds shares to the public. Picture: AFP/Getty
The government is to sell �2bn of Lloyds shares to the public. Picture: AFP/Getty
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One in eight people who are interested in the Lloyds retail share sale are first-time investors, according to a survey conducted by stockbroker Hargreaves Lansdown.

Since the UK government announced the offer on 5 October, 170,000 people have registered with the broker for updates on the process.

Hargreaves said one in five expressing interest participated in the large-scale privatisations of the 1980s and 1990s.

Senior analyst Laith Khalaf added: “The Lloyds share offer has clearly captured the imagination of first-time investors, as well as the original generation who took part in the privatisations of the eighties and nineties.

“This demonstrates how high-profile public offerings can really motivate people to think about investing for their future.”

Lloyds is forecast to post a rise in quarterly profits tomorrow.

Analysts at Investec expect the bank to report underlying third-quarter pre-tax profits up 4.5 per cent to £2.3 billion thanks in part to lower payment protection insurance (PPI) costs.