Lloyds Banking Group is to sell 35 percent of its stake in TSB, up from the original 25 percent. <br /><br />The decision has been taken as a result of heavy investor demand for the stock market listing. <br /><br />The shares have been ten times oversubscribed.<br /><br />Shares leapt 12 percent on opening. <br /><br />TSB is now valued at 1.6bn euros.<br /><br />The sale is the result of a European ruling, which ordered Lloyds to sell 631 branches and all remaining shares in TSB by the end of 2015. <br /><br />TSB has 4.5 million customers and is the seventh largest retail bank in the UK.
