LONDON (Alliance News) - Barclays PLC on Thursday said it has sold around 12% of its holding in Barclays Africa through the share placing announced late Wednesday, raising around GBP603.0 million in the process.
The lender said it has sold 103.6 million Barclays Africa shares at ZAR126 per share through an accelerated bookbuild, raising gross sale proceeds of around ZAR13.05 billion, or GBP603.0 million.
Barclays said that, upon settlement, the placing will result in a pro-forma increase of 10 basis points in Barclays common equity tier 1 ratio as at the end of March.
Barclays Bank PLC acted as sole global coordinator and joint bookrunner on the deal, alongside Citigroup Global Markets Ltd, JPMorgan Securities PLC and UBS Ltd, all joint bookrunners.
Following the sale, Barclays will hold 424.7 million shares in Barclays Africa, or a 50.1% stake. The bank had announced its intention to reduce its holding in its African banking subsidiary at the time of its first-quarter results.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Barclays (BARC)