LONDON, Dec 10 (Reuters) - Lloyds Banking Group said it raised 680 million pounds from the sale of its remaining21 percent stake in wealth manager St James's Place,bolstering its capital to help meet tougher new rules.
Lloyds, which is 33 percent-owned by the government, soldaround 109 million shares at a price of 630 pence per share tofinancial institutions, it said on Tuesday.
Lloyds said under full Basel III capital rules the placingwould increase its common equity Tier 1 capital by about 685million pounds, or 24 basis points. The bank will realise a gainof about 105 million from the sale.