Barclays bank to offload 59 million shares
815 views · Published 2 June 2017 · 1:26 · Indexed 20 September 2026
Channel: CGTN Africa · 2017 · News & Politics
British Bank, Barclays has sold its majority stake in Barclays Africa at a faster rate than expected. Barclays Africa and South Africa's state investment arm, the PIC which increased its stake by 7% are now the anchor shareholders. 286 million ordinary shares are being sold on the market; making up for 22% of the shareholding .The market value of the stake being sold is around $1.9 billion. Barclays is also selling Barclays Bank Egypt and Barclays Bank of Zimbabwe, which sit outside Barclays Africa Group. The British bank said in March 2016 it would sell most of its 62.3 pct stake in Barclays Africa Group. This latest sale should reduce its shareholding to around 28 %, with the bank aiming eventually for a stake of around 15 pct. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
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