Absa to Raise Kenya Unit Stake to 85% in $238.7 Million Tender
Updated
Updated · Bloomberg · Jun 18
Absa to Raise Kenya Unit Stake to 85% in $238.7 Million Tender
2 articles · Updated · Bloomberg · Jun 18
Summary
$238.7 million is what Absa Group plans to spend to lift its holding in Absa Kenya to 85%, buying an additional 16.5% through a tender offer.
34.50 Kenyan shillings per share is the offer price, valuing the bid at a 20% premium to the Nairobi-listed bank's 30-day volume-weighted average price through June 17.
Absa said the move reflects its confidence in East Africa's growth prospects, signaling a deeper commitment to one of the region's key banking markets.