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    Tuesday, November 24, 2009

    Lloyds Banking Group Prices Share Issue At 37p

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    By Sarah Turner
    MarketWatch Pulse
       

      LONDON -- Lloyds Banking Group said Tuesday that it has priced its rights issue at 37 pence per share. The firm will offer 36,505,088,579 new shares on a ratio of 1.34 new shares for every existing ordinary share held. Expected gross proceeds from the share offer are expected to total 13.5 billion pounds ($22.3 billion). The issue price represents a discount of 59.5% to Lloyds' closing price on Nov. 23.

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