Barclays PLC plans to sell 187 million shares or 22 per cent of Barclays Africa Group via an accelerated bookbuild, which is expected to be concluded overnight. The conclusion of the sale due to be announced Thursday, will see Barclays shareholding reduce to below 50 per cent.This follows regulatory approvals, including approval from the South African Finance Minister, to reduce its shareholding in Barclays Africa to this level.
Barclays PLC announced its intention last year to reduce its shareholding in Barclays Africa over a two to three year period. On 5 May 2016, Barclays PLC sold 103.6 million shares in Barclays Africa, reducing its shareholding to 50.1%.
“This transaction marks the next phase of Barclays Africa’s evolution as a standalone pan-African financial services group, committed to Africa,” said Maria Ramos, Barclays Africa CEO