South Africa’s Absa Group ready to buy more Absa shares in open market

South Africa's Absa Group is ready to buy more shares of Absa Bank Kenya on the open market, beyond its current tender offer for 895.9 million shares. The move could raise its ownership above 85%, as the tender offer is priced at Sh34.5 per share until August 11. Absa Group is spending Sh30.9 billion to increase its stake from 68.5% to 85% in the Kenyan subsidiary.