Barclays Raises GBP603 Million From Placing
May 05 2016 - 2:52AM
Dow Jones News
By Ian Walker and Max Colchester
LONDON--Barclays PLC (BARC.LN) has raised 603 million pounds
($875.56 million) through the sale of part of its stake in Barclays
Africa Group Ltd.
Late Wednesday the British bank said it would sell 103.6 million
shares in Barclays Africa, or 12.2% of its issued share capital,
via a bookbuild to an array of investors, dealing a blow to former
Barclays Chief Executive Bob Diamond's plan to snap up the
unit.
The shares were sold at 126 South African Rand ($4.5) a
share.
In the statement Wednesday Barclays said that South Africa's
state pension fund, The Public Investment Corporation SOC Ltd., has
agreed to buy up to 1.2% of Barclays Africa's shares. The rest of
the shares will be sold to investors pre-approved by the South
African regulator.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749; and
Colchester at max.colchester@wsj.com
(END) Dow Jones Newswires
May 05, 2016 02:37 ET (06:37 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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