Shares in Lloyds Banking Group dipped to 86.9p this morning after it emerged the government had cut its stake in the bailed-out bank to less than 17 per cent.
This could be among the final tranches of shares sold to institutional investors: chancellor George Osborne has said the government was planning to wrap up its current sale of shares to institutions by the end of December before embarking on a "Tell Sid"-style selloff.
"The trading plan has been a huge success, with almost £3.5bn raised for the taxpayer so far," he said. "This means we have now recovered over £10.5bn in total, more than half of the taxpayers' money put into Lloyds."
Details of the sale to retail investors will be announced "in due course", said the chancellor.