Investment firm sees 120,000 Lloyds share enquiries
More than 120,000 people have already registered their interest in buying discounted Lloyds Banking Group shares at just one investment firm, it has been claimed.
The Government announced on Monday that it would make at least £2 billion worth of shares in the bank available to the public next spring, including two generous discounts that could see investors pocket £200 in just one year off a £1,000 investment.
This has triggered a massive amount of public interest, and analysts say it is highly likely the share offer will be heavily oversubscribed.
Treasury sources revealed more than 62,000 people registered an interest with the Government in buying the shares on the first day alone.
By this morning Hargreaves Lansdown had reported more than 120,000 investors registering with the firm for e-mail updates on the Lloyds sale.
With such significant interest, it is likely many investors will miss out on their full allocation when the shares are made available.
As such it could prove crucial that the Government is prioritising smaller investors buying less than £1,000 worth of shares, said Laith Khalaf, senior analyst at Hargreaves Lansdown.
"Early indications are that the offer will be heavily oversubscribed, and larger investors may well be scaled back as a result."
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