TSB float: last chance to get in on the initial offer
Time is running out if you want to apply to buy shares in TSB in the initial public sale.
If you want to buy shares in the initial public offering (IPO) of TSB, then time is running out, as it's due to close on 17th June.
The initial price range has been initially announced as between 220p and 290p a share. A final share price in the middle of this range would mean TSB would be worth about £1.275 billion. You can read the prospectus for the share offer for more details.
A quarter of the business is up for grabs with the final initial share price expected to be confirmed on or around 20th June.
Small investors have the chance to grab free shares as part of the sale. You will get one free share for every 20 shares bought and held for 12 months, up to a maximum value of £2,000.
TSB is being floated on the stock market after Lloyds was ordered to shrink its business as a result of receiving state aid during the global financial crisis. Lloyds will be required to sell the rest of its stake in TSB by the end of 2015.
How to buy
You’ll be able to buy shares in TSB through the investment platforms, stockbrokers and sharedealing services that are acting as intermediaries. You'll be able to hold them in a stocks & shares ISA or a self-invested personal pension (SIPP).
The minimum application amount will be £750.
Should I invest?
Cliff D’Arcy has taken a look at the TSB proposition and how attractive it is to investors. Check out Should you buy shares in TSB? for his insight.
Invest in TSB via a stocks & shares ISA – compare what's on offer
This article has been updated since its original publication
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