Transcorp Hotels Plc’s Offer Opens Wednesday

The initial public offering (IPO)  by Transcorp Hotels Plc (THP) to raise about N8 billion from the investing public will open  tomorrow, Wednesday, September 24, 2014.

This follows the completion boarding of the company  held in Lagos  last Friday, where the directors of THP and other parties to the IPO signed the   pact for the offer.

The board of THP approved that the company issues 800 million shares of 50 kobo at N10 per share via the IPO and the listing of the shares of the company on the  Nigerian Stock Exchange (NSE) after the IPO.

The proceeds of the offer will be used to part-finance its expansion projects specifically the construction of two new flagship hotels in Ikoyi, Lagos and Port Harcourt  as part of its broader expansion plans.

THP, formerly known as Transnational Hotels and Tourism Services Limited, is the

Alibaba set to price shares as investors gear up for flotation

Chinese online giant Alibaba is expected to set the price of its shares later in what could be a record-breaking initial public offering (IPO).

Alibaba could raise between $22bn (£13.5bn) and $25bn when it lists its shares in New York.

The previous record IPO was set by Agricultural Bank of China's $22.1bn listing in 2010.

Alibaba said in an official filing on Monday that it expected to price its shares at between $66 and $68 a share.

The increase suggested demand for the firm's shares is high.

The listing could give Alibaba a total value of about

Transcorp Hotels to issue N8 billion in IPO

Transcorp Hotels, part of the Transcorp Plc conglomerate, has filed for an N8 billion ($49.3 million) initial public offering of 800 million ordinary shares of 50kobo.

The company made the disclosure through a notice to the Nigerian Stock Exchange (NSE).

Transcorp Hotels, whose flagship hotel is managed by the Hilton group in Nigeria’s capital city Abuja, is 88 percent-owned by the conglomerate, with the balance held by the Nigerian government.

The conglomerate, with interest in power generation, agribusiness and oil and gas has