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CORRECTED-Barclays finishes Africa business sell down with bumper $2.8bln stake sale
June 1, 2017 / 6:19 AM / 4 months ago

CORRECTED-Barclays finishes Africa business sell down with bumper $2.8bln stake sale

(Corrects day in lead to Thursday from Wednesday)

LONDON, June 1 (Reuters) - Barclays will sell shares worth 2.2 billion pounds ($2.83 billion) in Barclays Africa Group, the bank said on Thursday, increasing the size of the planned stake sale due to investor appetite and marking a completion of its planned selldown.

The bank said it would sell 286 million shares in Barclays Africa or 33.7 percent, with South African pension fund Public Investment Corporation acting as an anchor investor.

The shares will be priced at 132 rand a share, raising an aggregate 2.2 billion pounds, the bank said, leaving it with a residual 15 percent stake once it places 12.7 million shares in a black economic empowerment scheme.

The British bank said in March 2016 it would sell most of its 62.3 pct stake in Barclays Africa Group, with the lender aiming eventually for a stake of around 15 pct, which it has now reached. ($1 = 0.7779 pounds) (Reporting By Anjuli Davies; Editing by Rachel Armstrong)

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