DEALS | 19 MAY 2022

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Proud to have acted as Co-Bookrunner in the 4th and final selldown in Absa Group Limited stock by Barclays PLC

After markets closed on 31 August 2022, Barclays PLC launched an accelerated bookbuild (“ABB”) for the sale of its remaining 7.44% stake in Absa Group Limited.

Absa proud to have acted as Co-bookrunner on the successful ABB, where the full 7.4% stake of 63.1mm shares was placed at an offer price of R169.00 per share which is a 5.1% discount to the prior day’s close of R178.02. The offer raised a gross amount of ZAR10.7bn (~$622mm), making it the largest ABB in South Africa this year and the largest ABB since 2017.

Similar to the prior selldown in April 2022, where Absa also acted as the sole domestic co-bookrunner, books were covered very soon after deal launch at 5 pm SAST and were multiple times covered.

The tight discount is a testament to the best-in-class execution, with our team having monitored the market daily since the previous ABB when Barclays placed the first 7.4% tranche, and to the strong demand for Absa’s stock across domestic and international investors.

We pride ourselves in collaborating across the bank’s equity vertical in delivering exceptional results for clients and investors alike.

This deal is testament to our pan-African Equities and Equity Capital Markets prowess.

The bravery to imagine. That’s Africanacity.

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