Absa Group Increases Stake in Absa Kenya to 71.99% After Acquiring 189.4 Million Shares

Absa Group is set to increase its stake in Absa Bank Kenya PLC to 71.99% after accepting 189,380,644 ordinary shares in a tender offer that closed on August 11, 2026.

The group offered to acquire up to 895,989,600 ordinary shares, representing up to 16.5% of Absa Kenya’s issued share capital, at Ksh 34.50 per share. It made the offer to all other shareholders on a willing-buyer, willing-seller basis.

Absa Group announced the results after receiving valid tenders from 2,045 shareholders. Shareholders tendered a total of 189,981,668 shares, while the group accepted 189,380,644 shares for purchase.

“Absa Group Limited (“Absa Group”) is pleased to announce the results of its offer to acquire up to 895,989,600 ordinary shares (“Ordinary Shares”) in the issued share capital of Absa Bank Kenya PLC (“Absa Kenya”), representing a maximum of 16.5% of the issued share capital of Absa Kenya, by means of a tender offer (“Tender Offer”) made to all other shareholders of Absa Kenya on a willing buyer, willing seller basis at a price of KES 34.50 per Ordinary Share,” the Group stated.

Absa Group Accepts 189.4 Million Shares

The results showed that shareholders tendered 189,981,668 shares in total, while Absa Group accepted 189,380,644 shares for purchase.

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C&R Group, the data processing agent, will notify each shareholder whose tender was accepted of their entitlement under the offer.

“Each accepting Shareholder will be notified by the Data Processing Agent, C&R Group, of their Entitlement under the Tender Offer,” the group said.

The transfer of the ordinary shares to Absa Kenya will be effected as block trades on the Nairobi Securities Exchange.

Once the share transfer is complete, Absa Kenya will pay each shareholder who accepted the offer according to their preferred payment method indicated in the acceptance form.

Stake Set to Reach 71.99%

Following completion of the settlement process and transfer of the ordinary shares accepted under the tender offer, Absa Group will hold 3,910,196,644 ordinary shares in Absa Kenya.

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The holding will represent approximately 71.99% of Absa Kenya’s issued ordinary share capital. It includes the 3,720,816,000 ordinary shares held by Absa Group before the tender offer.

Absa Group said it was pleased with the outcome of the tender offer and thanked Absa Kenya shareholders, regulatory authorities and its advisers for their support and cooperation throughout the process.

“Absa Group is pleased with the outcome of the Tender Offer and wishes to thank the shareholders of Absa Kenya, the regulatory authorities and its advisers for their support and cooperation throughout the Tender Offer process,” the group added.

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Photo of Absa Group branch in Nairobi. PHOTO/The Standard