The new right issue offer of N48.8billion from Oando Plc may further dampen investors sentiments towards investment in the shares of the firm as sentiments analysis has recently revealed renewed investors apathy towards offer price at N22.00kobo.
Oando Plc has announced its rights issue recently and looking to raise N 48.8 Bn and is offering new shares to shareholders in its book as at July 25, 2014 on the basis of one new share for every four shares held as at the qualification date. In a show of confidence, the rights issue is being offered at N22 per share, which is higher than the current price of 21.4%. The price of the stock has been going up since the rights issue opened, and is 5% up today. The application list for the offer will close on December 19.
Transcorp Hotels Plc (THP) is the hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp Plc) - a leading conglomerate of Nigeria. It is the largest luxury hotel operator in the country and has a business alliance with the Hilton hotel, to operate these luxury properties.
Transcorp Hotels Plc (THP) formerly Transnational Hotels and Tourism Services Limited is the hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp Plc). The company currently owns two hotels: Transcorp Hilton Abuja and Transcorp Hotels Calabar. THP's vision is to be a leading hospitality company in Nigeria and across Africa creating maximum and sustainable value for its stakeholders.
The IPO market, a primary market activity in any capital market system, remains a window for new firms to raise fresh capital while it also serves as a barometer which helps to gauge how healthy the market is, investors’ confidence as well as the mood in the market at any point in time.