LONDON, May 27 (Reuters) - British lender TSB expectsbetween 15 percent and 20 percent of shares being offered in thefirst phase of its stock market listing to be sold to privateretail investors, Chief Executive Paul Pester told reporters.
Pester also said that it will take between 4 to 5 years forthe bank to reach its target to have a 6 percent share of thepersonal current account market in Britain.
Lloyds Banking Group said on Tuesday it would floatabout 25 percent of its TSB business on the London StockExchange. It must sell the remainder by the end of 2015 as acondition of its 2008 government bailout.
(Reporting by Matt Scuffham; Editing by Simon Jessop)