By Ian Walker

Barclays PLC said Thursday that it has sold 63 million shares in Absa Group Ltd. for 169.0 South African Rand a share, raising ZAR10.66 billion ($622.6 million) and increasing its CET1 ratio by four basis points.

The U.K. bank, which said late Wednesday that it was selling its remaining 7.4% shareholding in Absa, sold the shares via an accelerated bookbuild program.

Barclays said that it will book a loss of GBP31 million ($36 million) in its accounts from the sale.

It plans to use the money raised for general corporate purposes.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

September 01, 2022 02:31 ET (06:31 GMT)

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