"Returning Lloyds to the private sector and recovering all of the cash the taxpayer injected into the bank during the financial crisis is a priority for the government."
The government has described the latest share sales, conducted through the trading plan, as "a significant milestone".
It has now recovered over £18 billion of the £20.3 billion taxpayers injected into Lloyds during the financial crisis.
The Chancellor of the Exchequer, Philip Hammond said: "Returning Lloyds to the private sector and recovering all of the cash the taxpayer injected into the bank during the financial crisis is a priority for the government.
"Confirmation that we are no longer the largest shareholder in the bank and that we’ve now recouped over £18 billion for UK taxpayers is further evidence that we are on track to recover all of the £20 billion injected into the bank during the financial crisis."
