Lloyds Banking Group, which is 33%-owned by the UK government, said Tuesday 109 million St James's Place shares have been placed at 630 pence each, raising £680 million pounds.

Late Monday, Lloyds said it would sell its remaining 21% stake in wealth manager St James's Place. The sale increases the bank's common Tier 1 capital - a core measure of the bank's health - by £685 million.