LONDON - Qatar Holding LLC, a subsidiary of the Qatar Investment Authority, is set to offload approximately half of its holdings in Barclays (LON:BARC) Plc. The sale could amount to up to £517 million, based on the accelerated bookbuild process detailed in a recent US regulatory filing. This move marks a significant shift for the Qatari sovereign wealth fund, which has been a key shareholder in the British bank since the financial crisis.
The stake sale consists of about 361.7 million shares, with an offering price range between 141 and 142.98 pence per share, aligning with Barclays' market close values today. This price range suggests that the shares are being sold without a discount, despite the current challenging market environment.
Qatar Holding's decision to reduce its position in Barclays comes as the bank embarks on a strategic overhaul under CEO C.S. Venkatakrishnan. With guidance from Boston Consulting Group, Barclays is exploring avenues for expansion amid pressures facing its retail banking and international credit card operations.
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