logo
  

Barclays Places Entire 7.4% Stake In Absa Group To Raise £538 Mln

Banking major Barclays Plc (BARC.L,BCS) Thursday said it has agreed to sell its entire holding of 63.07 million ordinary shares of Absa Group, representing around 7.4% stake, at a price of ZAR 169.0 per share. The sale through an accelerated bookbuild placing raises aggregate gross sale proceeds of around ZAR 10.66 billion or 538 million pounds.

Barclays plans the sale through its wholly owned subsidiary, Barclays Principal Investments Limited.

Barclays on Wednesday announced its intention to place the Absa stake.

The Placing is expected to result in a pro forma increase of approximately 4 basis points to the Barclays group's CET1 ratio as at 30 June 2022 and a loss on sale of 31 million pounds.

Barclays Bank PLC is acting as global co-ordinator and bookrunner.

The proceeds of the placing are payable to Barclays in cash on usual South African settlement terms. The net proceeds will be used for general corporate purposes.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
American Honda Motor Co, Inc. has recalled about 2,900 units of 2022 model year Honda TRX90X All-Terrain Vehicles (ATVs) sold in the United States for possible crash and injury hazard, according to a statement issued by the U.S. Consumer Product Safety Commission or CPSC. The Laundress, a unit of Conopco Inc. d/b/a Unilever, is recalling around 8 million laundry and household cleaning products citing risk of exposure to bacteria, U.S. Consumer Product Safety Commission. The recall involves Laundress laundry detergent, fabric conditioner and other cleaning products. Tesla Inc. has delivered its first Semi, a heavy-duty electric truck, to its customer PepsiCo Inc. during an event at its Nevada Gigafactory. The delivery of 500-mile fully electric Semi truck comes five years after the launch of the truck's prototype in 2017. During Thursday night's Semi Delivery Event at Tesla's Sparks, Nevada factory, CEO Elon Musk, with Dan Priestly, ...
Follow RTT