The Treasury has sold off taxpayer-owned shares in Lloyds Banking Group during the past fortnight to earn £500 million.
It takes the total raised since Morgan Stanley was asked to start selling shares in the stock market in December to more than £1 billion.
Lloyds said the Treasury’s holding is now just below 23%.
Following the £20 billion taxpayer bailout of Lloyds after its ill-fated takeover of HBOS in 2009, it had a 40% stake.
Lloyds shares have risen from 79.2p to 80.8p since Lloyds reported strong, 2014 profits at the end of last month.
Chancellor George Osborne tweeted: “Delighted that we have raised a further £500 million for the taxpayer through Lloyds share sales, taking total recovered to approximately £8.5 billion.”
A Lloyds spokesperson said: “Today’s announcement shows further progress made in returning Lloyds Banking Group to full private ownership.”Reuse content