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Lloyds Bank share sale pulls in first-time investors

Published: 08:30 26 Oct 2015 EDT

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Some 170,000 have already registered their interest in taking part in the sale on Hargreaves Lansdown
The government’s Lloyds Bank (LON:LLOY) share sale has sparked a wave of interest among first-time investors, according to Hargreaves Lansdown.
 
Three weeks ago, the finance ministry announced plans to launch a sale of at least £2bn of shares to retail investors at a 5% discount to the market price as part of a bid to fully privatise the bank in the coming months.
 
Some 170,000 have already registered their interest in taking part in the sale on Hargreaves’s website, with first-time investors making up 12.5%.
 
Laith Khalaf, Senior Analyst, said: “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.”
 
It could reverse a trend since the turn of the century, which has seen the number of households holding stocks and shares drop.
 
Young people in particular are less interested in the stock market, according to the Department of Work and Pensions (DWP).
 
While not all first-time investors will fall into this category, the company said there would be a “good spread”, including the younger age bracket.
 
The Lloyds share sale has renewed interest from seasoned investors, with 20% of registrants having taken part in an Initial Public Offering (IPO) or share offer in the privatisations of the 1980s and 90s and 12% buying Royal Mail shares a few years ago.

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