LONDON: Barclays will sell shares worth 2.2 billion pounds ($2.83 billion) in Barclays Africa Group, the bank said on Thursday, increasing the size of the planned stake sale due to investor appetite and marking a completion of its planned selldown.
The bank said it would sell 286 million shares in Barclays Africa or 33.7 per cent, with South African pension fund Public Investment Corporation acting as an anchor investor.
The shares will be priced at 132 rand a share, raising an aggregate 2.2 billion pounds, the bank said, leaving it with a residual 15 per cent stake once it places 12.7 million shares in a black economic empowerment scheme. — AFP
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