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Equity Market News 19th May 2012

Equity Org Headlines:

Essar Energy adds 3 percent in mostly lower London energy sector

Antofagasta leads miners higher in London

Hunting plc leads energy sector lower

Sports Direct International leads London retailers higher

Pace plc drops 40 percent on profits warning

Royal Bank of Scotland leads London banks lower

Royal Bank of Scotland leads banks, FTSE 100 higher in London

Lloyds Banking Group drops 8 percent on first-quarter loss

Lloyds shares down on PPI claims

Aquarius Platinum adds 7 percent amid mostly lower mining sector

05/05/05

Permalink 05:43:32 pm, Categories: Europe Eurofirst, Tokyo Nikkei & Topix, 155 words  

Pyaterohka offering threatened by disease outbreak

The pricing of an initial public offering on the London Stock Exchange by Pyaterohka, Russia’s largest grocery retailer, ran into trouble as the company had to close nearly 10 percent of its stores because on outbreak of hepatitis A among its workers.

The chain issued the IPO in hopes of raising at least $598 million by selling 30 percent of its equity. The hepatitis outbreak initially had 109 stores closed, but 87 of them were able to reopen by Thursday, but 22 stores in St. Petersburg were still closed after 55 cases of the disease were confirmed among staff there.

It was believed that the infection stemmed from contaminated hot meals served in staff canteens by an outside caterer. The company, which has stores in Moscow and St. Petersburg, said that the closures would not impact its financial results for the year.

Additionally, those close to the IPO said that there was no effect on the sale of shares in London.

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