Lloyds Banking Group Acquires Over 25 Million of Its Shares in Effort to Streamline Company's Equity Structure

In a bid to strengthen its standing on the FTSE 100, Lloyds Banking Group has handed over a hefty sum to secure and subsequently cancel 25,458,428 of its own ordinary shares, boosting its share price in the process. The shares were brokered by international powerhouse Morgan Stanley & Co, with the highest price paid per share reaching 71.9800 pence and the lowest clocking in at 69.7000 pence. The volume weighted average price paid per share was noted at 70.5933 pence.

This massive purchase forms part of Lloyds’ ongoing share buyback programme, facilitated according to the instructions issued by the banking group to the broker on 20 February 2025. The shares are set to become out of circulation shortly, with Lloyds intending to cancel the shares, thereby benefitting its existing shareholders and potentially appealing to prospective ones.

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