TSB'S flotation could value the bank at as much as £1.44bn when the price range is announced - which could come as soon as today.
The initial public offering (IPO) valuation is almost twice the £750m maximum offered by the
To reassure nervous equities markets, the advisors are pushing for a price of around 10 per cent below the bank's £1.5bn to £1.6bn book valuation to show investors they have got a good deal.
As a result they hope the shares will bring in more money with each subsequent sale of the shares.
The full sale of the bank will be complete by the end of next year and is expected to take at least two more tranches of stock offerings.
"We should hear confirmation, one way or another today, after a price meeting arranged by JPM and
TSB and Lloyds declined to comment.
Most Popular Stories
- Americans Still Pessimistic Despite Economic Growth
- Apple to Unveil New Items on Sept. 9
- Friends Followed Similar Paths to Violent Jihad
- Axxis Solutions Appoints Benites as CEO
- California Moves Toward Ban on Plastic Bags
- Obama Puts Ukraine Violence on Russia
- Hillary Clinton Breaks Silence on Ferguson
- Janet Yellen's Assets Grew by 8 Percent in 2013
- Identity Thieves Prey on Job Seekers
- Parra Joins Exclusive Club of Hispanic CEOs