By Joe Hoppe

 

Barclays PLC said Wednesday that it intends to sell around 63 million shares in Absa Group Ltd. through an accelerated bookbuild placing, opening with immediate effect.

The U.K. bank said that the final number of shares to be placed and the price per share will be agreed upon by Barclays and the other banks acting as co-bookrunners will be agreed on at the close of the process.

Shares in Absa in Johannesburg at 1515 GMT stood at 177.0 South African rand ($11.81).

The 63 million shares on offer represent around 7.4% of financial services company Absa's issued share capital, and will be offered to institutional investors.

 

Write to Joe Hoppe at joseph.hoppe@wsj.com

 

(END) Dow Jones Newswires

April 20, 2022 11:39 ET (15:39 GMT)

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