Nedbank Offer for NCBA Shares Opens on 28 May 2026

• Nedbank Offer for NCBA Shares Opens on 28 May 2026

NCBA Group PLC has announced that Nedbank Group Limited’s offer to acquire about 66% of NCBA’s issued shares will open at 9:00 AM EAT on 28 May 2026 and close at 5:00 PM EAT on 10 July 2026.

For every 100 NCBA shares accepted, shareholders will receive 4.02994 Nedbank shares plus KSh 2,100 in cash, while qualifying cash-only shareholders will receive KSh 10,500 per 100 shares accepted.

Shareholders are advised to read the offer documents, consider the Board’s recommendation, and seek guidance from a stockbroker, investment banker, or professional investment adviser before making a decision.

NCBA Group PLC (NCBA or the Group), a preeminent financial services provider in East Africa, has announced that it has received a Strategic Investment Proposal together with a Notice of Intention (NOI) from Nedbank Group Limited (Nedbank) to acquire approximately 66 per cent of the ordinary shares of NCBA from NCBA shareholders by way of a Tender Offer.The planned acquisition values NCBA at a multiple of 1.4 times its Book Value.The proposed transaction structure will see NCBA shareholders who participate in the Tender Offer receive 20 per cent of their consideration in cash, while the remaining 80 per cent will be settled through the issuance of Nedbank ordinary shares listed on the Johannesburg Stock Exchange (JSE).