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PIC spends $87mln and takes 1.2% Barclays stake

Last week the Public Investment Corporation, South Africa’s state-owned investment manager, confirmed that it is spending approximately $87 million to acquire 10% of the shares offered in Barclays’ accelerated book build to dispose a block of its holding in Barclays Africa Group. The placement of 12.2% of Barclays’ stake in the subsidiary was priced at a 7% discount to the JSE-listed company’s market price and attracted significant domestic and international investors.

Read more at Financial Times…

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