Morgan Stanley: The rate of its sell-down accelerated this year after Morgan Stanley was mandated to sell shares through a trading plan known as a dribble-out . I personally think that the dribble-out was a really smart thing to do because it enabled the government to sell without any concerns about inside information, Horta-Osorio told the British Bankers Association annual retail conference on Thursday, according to Euro News. It just a blind programme where they sell 15 percent, on average, of daily volumes and they have increased the number of shares sold at higher prices without discounts, he said. The government has reduced its stake in the bank, bailed out during the 2007-9 financial crisis, to 18 percent from 43 percent. Britain spent a combined 66 billion pounds of taxpayers’ money rescuing Lloyds and Royal Bank of Scotland
during the crisis and Chancellor George Osborne is keen to sell its shares in the banks as soon as possible. In contrast, the government has said it is ready to start selling shares in RBS at a loss in order to get liquidity into the stock and potentially boost its value for later sales. Shares in Lloyds are currently trading comfortably above the price which the government paid for them, enabling it to make a profit on the shares. (news.financializer.com). As reported in the news. Tagged under Morgan Stanley, retail conference topics.