Lloyd's TSB Development Capital, the private equity arm of Lloyd's TSB, expects to bring its total profit from selling its iSoft shares to £37.3m (€58.1m) after the UK information system developer's secondary stock offering in late June.

Lloyds, which invested £6.7m in iSoft in 1999, holds approximately 18.5 million shares in the company. It expects to sell up to 12 million of those when iSoft places up to 27.2 million additional shares with institutional investors on June 27 through a secondary offering.