Barclays halves stake in South African lender Absa Group
Barclays
204.35p
17:15 26/04/24
0.17%
0.35p
Barclays has halved its stake in South African lender Absa Group after selling 63m shares in a placing.
Banks
4,061.31
16:59 26/04/24
0.92%
36.97
FTSE 100
8,139.83
17:09 26/04/24
n/a
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FTSE 350
4,470.09
16:59 26/04/24
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FTSE All-Share
4,423.59
17:14 26/04/24
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Barclays sold the 7.4% stake at 164 rand per share, raising £526m.
The placing is expected to result in a loss of £43m through the income statement, partly offsetting a gain of £121m recorded through other comprehensive income. The resultant impact will be a proforma increase to Barclays’ CET1 ratio of around 10 basis points.
Barclays said net proceeds from the placing will be used "for general corporate purposes".