Lloyds' sell-down prospect excites ECM
ECM bankers are excited by the prospect of a speedy sell-down of Lloyds Banking Group stock by the UK government, with market participants optimistic that the markets are likely to remain supportive over the coming six weeks.
Over the weekend, rumours that the sell down could come swiftly in the wake of the bank’s third quarter results on February 13 escalated.
“There’s very strong interest for the financial sector at the moment, and within that sector banks are particularly well bid,” said one senior
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