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Nigeria’s Transcorp Hotels to launch 8 bln naira IPO on Sept 24

LAGOS (Reuters) – Nigeria’s Transcorp Hotels, part of the Transcorp conglomerate, plans to start marketing its initial public offering from Sept. 24 to raise 8 billion naira ($48.8 million), marketing documents seen by Reuters show. Transcorp Hotels plans to offer 800 million ordinary shares to new investors at 10 naira per share. The sale will last for a week and the shares will be listed on the Nigerian Stock Exchange on Nov. 5, the prospectus showed. (1 US dollar = 163.8000 Nigerian naira) …read more

Source: Nigeria’s Transcorp Hotels to launch 8 bln naira IPO on Sept 24

American Airlines reaches tentative deal with flight attendants

By Jeffrey Dastin NEW YORK (Reuters) – American Airlines Group Inc said on Friday it struck a tentative contract agreement with the Association of Professional Flight Attendants, an important step in finalizing a deal with 24,500 U.S.-based stewards at the airline. If members of APFA ratify the agreement this fall, it will be the first contract passed since American merged with US Airways last year and the first that applies to workers from both carriers, while pilots and ticketing agents at the new American are far from reaching this stage. …

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Source: American Airlines reaches tentative deal with flight attendants

Factbox: Sistema’s business empire spans telecoms, oil, shops, hotels

LONDON (Reuters) – Shares in Russian oil-to-telecoms conglomerate Sistema tumbled on Wednesday after its head Vladimir Yevtushenkov was accused by Russian investigators of money-laundering in connection with the company’s acquisition of oil producer Bashneft. The investigators have placed Yevtushenkov under house arrest. Sistema, which controls Russia’s biggest mobile phone company MTS , said it considered the accusations baseless. More details on Sistema’s holdings and structure follow below: Sistema, incorporated in 1993, says it is Russia’s largest publicly listed holding company. … …read more

Source: Factbox: Sistema’s business empire spans telecoms, oil, shops, hotels

Price of top-grade Kenya tea up at latest auction

NAIROBI (Reuters) – The maximum price of Kenya’s top-grade tea rose to $3.82 per kg at auction on Tuesday from $3.51 last week, Africa Tea Brokers said. Best Broken Pekoe Ones (BP1s) fetched $2.21-3.82 per kg, compared with $2.20-3.51 last week, ATB said in its market report. Kenya is the world’s leading exporter of black tea and the crop is a leading foreign exchange earner for the economy, alongside horticulture and tourism. Best Brighter Pekoe Fanning Ones (PF1s) sold at $2.42-2.78 per kg, up from $2.34-2.70 last week. …

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Source: Price of top-grade Kenya tea up at latest auction

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