trending Market Intelligence /marketintelligence/en/news-insights/trending/AOcC08lmQJHpqUNkygxAzA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Barclays raises 13.05B rand in Barclays Africa Group share sale

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Barclays raises 13.05B rand in Barclays Africa Group share sale

BarclaysPlc sold 103,592,491 ordinary shares in ,representing 12.2% of the unit's issued share capital, at a price of 126 SouthAfrican rand per share.

The sharesale, executed via an accelerated bookbuilding process, raisedaggregate gross proceeds of approximately 13.05 billion rand. The proceeds ofthe share sale are payable in cash on usual settlement terms.

Following completion of the transaction, Barclays will hold424.7 million ordinary shares of Barclays Africa, representing about 50.1% ofthe unit's issued share capital. Allof the remaining ordinary shares in Barclays Africa held by the parent or itssubsidiaries, excluding Barclays Africa and its units, and not sold in theplacing, will be subject to a 90-day lock-up period from settlement.

Settlement of the placing is expected to occur May 12, subjectto the satisfaction or waiver of certain customary conditions. Upon settlement,the sale is expected to result in a pro forma increase in the group's commonequity Tier 1 ratio of about 10 basis points as of March 31.

Barclays Bank Plc, acting through its investment bank, isthe sole global coordinator and joint book runner in the transaction togetherwith Citigroup Global Markets Ltd., J.P. Morgan Securities Plc, which conductsits U.K. investment banking activities as J.P. Morgan Cazenove, and UBS Ltd.

As of May 4, US$1 wasequivalent to 14.90 South African rand.