DEALS | 19 MAY 2022

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of strong relationships

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We are proud to have served as co-bookrunner and also the only domestic bank for Barclays PLC’s sale of 63mm shares in Absa Group Limited.

We are proud to have served as co-bookrunner and also the only domestic bank for Barclays PLC’s sale of 63mm shares in Absa Group Limited, a transaction that reduced Barclays’s PLC’s stake in Absa Group Limited from from 14.88% to 7.4%. The shares were placed in an accelerated bookbuild (“ABB”) at an offer price of R164.00 per share (7.3% to the prior day’s close of R177.00). The offer raised a gross amount ZAR10.3bn / $690mm – the second largest secondary ABB since the last Barclays/Absa ABB in 2017. The ABB was launched just after 5pm SAST on Wednesday 20 April 2022 and within 30 minutes books were covered, with the bookbuild closing by 7:30pm SAST.

We take pride in being able to navigate complex scenarios and deliver swift outcomes. Our knowledge of the market and meaningful relationships built with investors over time help us to deliver for our clients.

This deal is yet another testament to our pan-African expertise in Equity Capital Markets and Equities.

The bravery to imagine. That’s Africanacity.

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