HALISTER: Barclays Increases Size of Africa Placing Citing Strong Demand

Barclays Increases Size of Africa Placing Citing Strong Demand

(Bloomberg) -- Barclays increases size of placing in Barclays Africa Group Limited to 285.69m shares, or 33.7% of co., at a price of ZAR132/share, raising aggregate gross sale proceeds of approximately ZAR37.7b (or GBP2.2b).
  • The placing is expected to result in a pro forma increase of approximately 27bps to the Group’s 31 March 2017 CET1 ratio, from 12.5%
  • Placing is expected to result in a pro forma increase of ~27bps to March 31 2017 CET 1 ratio, from 12.5%
  •  Following completion, Barclays will hold 139m shares in BAGL (or 16.4%), of which 12.7m shares will be contributed to a black economic empowerment scheme in due course, leaving a residual holding of ~15%
  • Completion of placing, associated accounting deconsolidation would result in an estimated loss of GBP1.2b, calculated pro forma on March 31 2017 financial statements
    • Actual loss will be recognised in income statement in Barclays 2Q 2017 financial statements, presented within discontinued operations
  • Statement:Link
  • May 31: Barclays to Sell 22% of Barclays Africa via Placing Link

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
BARC LN (Barclays PLC)
BGA SJ (Barclays Africa Group Ltd)

Topics
BFW Equity Capital Mkts Europe
Emerging Mkts News, Analysis

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