Company news

Nigeria's Stanbic shares traded in block deal worth US$195mSome 1.14 billion shares of Stanbic IBTC Holding were sold at 53.75 naira each the stock exchange said on Friday in a block deal valued at about US$195 million.The deal was negotiated trade between seller Rencap Securities Ltd and buyer Stanbic IBTC Stockbrokers Ltd. Stanbic IBTC Holding’s shares closed at 46.60 naira.Stanbic IBTC, is the local subsidiary of South Africa’s Standard Bank.-Nampa/ReutersUK lender CYBG raises all-share bid for Virgin Money by 7%British lender CYBG said on Sunday it had raised its offer to buy challenger bank Virgin Money by a 7% increase in the exchange ratio through an all-share combination.Under terms of CYBG’s revised proposal, Virgin Money shareholders would own about 38% of the combined group as compared to the original 36.5% offer.The proposed combination would provide a full-service banking offer for around six million personal and business customers, CYBG, the owner of Clydesdale Bank and Yorkshire Bank, said in a statement.-Nampa/ReutersAustralia's CBA seeks redemption with record settlementCommonwealth Bank of Australia (CBA) agreed to pay a record penalty of A$700 million (US$529.3 million) to settle explosive money laundering charges brought by Australia’s financial intelligence agency.The biggest financial penalty in Australian corporate history was almost double the amount CBA had set aside, signaling the tougher regulatory framework Australian banks face following revelations of widespread misconduct.-Nampa/ReutersAccorHotels looks at taking stake in Air France KLMAccorHotels said on Sunday it was looking again at possibly buying a stake in Air France KLM , in which the French government has a 14.3% holding.AccorHotels said over the past years it had held discussions with Air France KLM with a view to develop joint projects, including an acquisition of a minority stake.-Nampa/ReutersRequirement for mining companies to list locally in Zim, removedZimbabwe’s parliament has passed amendments to the mining bill after removing clauses that required foreign mining companies to list locally, according to an official record of parliament’s debates seen on Friday.Mines minister Winston Chitando had last month promised to remove the requirements, which he said caused panic among foreign mining firms and were contrary to the government’s push to open Zimbabwe to foreign investors.-Nampa/Reuters

Company news

Comments

Namibian Sun 2025-06-12

Please login to leave a comment

Company news

Comments

Namibian Sun 2025-06-12

Please login to leave a comment

Login