Mon, 09th Dec 2013 16:55
LONDON, Dec 9 (Reuters) - Lloyds Banking Group saidon Monday it would sell its remaining 21 percent stake in wealthmanager St James's Place to bolster its capital.
It said that, under full Basel III capital rules the placingwould increase its common equity Tier 1 capital by about 670million pounds ($1.1 billion), or 24 basis points.
Lloyds said it will sell 109 million shares to institutionalshareholders. The stake is worth around 700 million pounds.
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Lloyds (LLOY)