Transcorp Hotels to raise US$26M via rights issue to fortify balance sheet against covid19 effects

Transcorp Hotels to raise US$26M via rights issue to fortify balance sheet against covid19 effects

NIGERIA – Shareholders of Transcorp Hotels Plc have unanimously authorized the Board of Directors to raise N10 billion (US$26 million) in its proposed Rights Issue to fortify its balance sheet against the effects of the surging Covid19 pandemic. Transcorp’s decision follows a bold move by, Dangote Cement PLC and MTN Nigeria Communications PLC to raise corporate bond and commercial papers in the capital markets despite economic shocks occasioned by the COVID19 pandemic. According to BusinessDay Nigeria Transcorp Hotels, owners of Transcorp Hilton Abuja and Transcorp Hotels Calabar,  received the approval…

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Nigeria’s Transcorp Group revamps board, appoints new group President/CEO

NIGERIA – Nigeria’s leading industrial holding company, Transnational Corporation of Nigeria Plc (Transcorp) has unveiled a revamped Board and appointed Owen Omogiafo as the Group President and Chief Executive Officer. Omogiafo succeeds Valentine Ozigbo, who is retiring, having served Transcorp for close to a decade significant appointment to its Board and Executive Management, the company said in a statement. Owen is currently the MD/CEO of Transcorp Hotels Plc and has over two decades of corporate experience in organisational development, human capital management, banking, change management and hospitality. She holds a…

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