Barclays to Sell Stake in Barclays Africa Group
May 04 2016 - 12:20PM
Dow Jones News
LONDON—Barclays PLC said Wednesday that it was selling 12.2%
stake in Barclays Africa Group Ltd. to an array of investors, as
the British bank pushes ahead with a plan to cut its exposure to
Africa.
In a statement the bank said that South Africa's state pension
fund, The Public Investment Corporation SOC Limited, will be the
anchor investor in the placing of up to 10.3 million shares,
representing up to 1.2% of Barclays Africa's shares. The rest of
the shares will be sold to investors preapproved by the South
African regulator, with a price set overnight.
Barclays previously said that it intends to cut its 62% stake in
Barclays Africa. If this share sale goes ahead as planned then its
stake will be reduced to around 50%.
(END) Dow Jones Newswires
May 04, 2016 12:05 ET (16:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Barclays (NYSE:BCS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Barclays (NYSE:BCS)
Historical Stock Chart
From Apr 2023 to Apr 2024
