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BRIEF-Barclays sells 33.7 pct of Africa business for 2.2 bln pounds
June 1, 2017 / 6:10 AM / 6 months ago

BRIEF-Barclays sells 33.7 pct of Africa business for 2.2 bln pounds

June 1 (Reuters) - Barclays Plc

* Barclays has decided to increase size of placing ( “placing”)

* Barclays has agreed to sell 285,691,979 ordinary shares 2 in capital of Barclays Africa( “placing shares”) (representing 33.7% of bagl’s issued share capital) at a price of zar 132.0 per share, raising aggregate gross sale proceeds of approximately zar 37,711 million (£2,224 million 1 ).

* Placing is expected to result in a pro forma increase of approximately 27 basis points to group’s 31 march 2017 cet1 ratio, from 12.5%.

* Following completion of placing, barclays group ( “group”) will hold 139 million ordinary shares in bagl (16.4% of bagl’s issued share capital) Source text for Eikon: Further company coverage: (Reporting By Rachel Armstrong)

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