Barclays halves stake in South African lender Absa Group
Barclays has halved its stake in South African lender Absa Group after selling 63m shares in a placing.
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.
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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”.
Source: sharecast
Via: norvanreports
