Nedbank offer for NCBA draws 79.9% acceptances, secures 66% stake goal

Reuters2026/07/21 05:09

By:Reuters

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Nedbank’s offer to buy about 66% of NCBA drew acceptances for 1,316,357,895 shares, equal to 79.90% of NCBA’s issued shares.
Acceptances included 920,652,658 shares under pro rata entitlements, plus 395,705,237 shares in excess applications.
The indicative outcome meets the targeted 66% stake, implying issuance of about 43,626,646 new Nedbank ordinary shares to tendering NCBA holders.
The cash portion is expected at about KES 23.24 billion, equivalent to about ZAR 2.96 billion at a KES/ZAR spot rate of 7.84.
NCBA is expected to remain listed in Nairobi; completion is still targeted for late Q3 or early Q4 2026, with final results due by the 10th trading day after settlement.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Nedbank Group Ltd. published the original content used to generate this news brief via SENS, the regulatory disclosure system operated by the Johannesburg Securities Exchange (JSE) (Ref. ID: S524362), on July 21, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Nedbank offer for NCBA draws 79.9% acceptances, secures 66% stake goal

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