‘Going right to the heart of whether we have trust in the markets’
Some fund managers say they are wary of buying stock released in staggered sales until banks and regulators clarify the rules on how quickly company owners are allowed to sell more shares — a dispute that could hurt large stock offers such as Lloyds.
They say they have been burned before by banks allowing owners to bypass lock-up agreements, which are meant to prevent too much stock hitting the market too fast and pushing the share price down.
