Nedbank Group has officially opened its partial tender offer to acquire a 66% controlling stake in NCBA Group PLC.

How we got here

Cash, equity, and the Small Shareholder exit

1. The Standard Consideration (Hybrid Payout)

For every 100 NCBA shares tendered, shareholders will receive:

  • 4.02994 newly issued Nedbank shares (accounting for 80%), which trade on the Johannesburg Stock Exchange (JSE).

A strategic marriage, not a merger

The timeline

The window for participation is now open, leaving investors a six-week period to finalize their positions.

  • Tender Period Opens: 28 May 2026
  • Tender Period Closes: 10 July 2026 (5:00 PM)
  • Announcement of Results: 21 July 2026
  • Expected Settlement: Late July / August 2026

What happens next?

As of today, market sentiment remains bullish, with NCBA shares holding steady near the offer price as institutional investors move to lock in their pro-rata entitlements.