The Nigerian Stock Exchange (NSE), has notified all stakeholders that the trading in rights of Oando Plc was re-opened from Wednesday, 3 December 2014 to end on Wednesday, 14 January 2015. This decision is subsequent to the Suspension of Trading in Rights that occurred on November 28, 2014.

On Monday, 24 November 2014, trading commenced on the Oando rights issue of 2,217,265,184 ordinary shares of 50 kobo each at N22.00 per share. This offer was initially slated to close on Friday, 19 December 2014. Susbequently, however, Vetiva Securities Ltd, the Lead Stockbroker to the Offer, notified the NSE that Oando Plc was yet to obtain a formal clearance of the Offer documents and registration of the shares from the Securities and Exchange Commission. In reaction to this information, the NSE suspended the rights offer on 28 November 2014.

Having received the Commission’s approval to proceeding, the exchanged re-opened trading in rights of the offer on 3 December 2014 to close on Wednesday 14 January 2014.

The Nigerian Stock Exchange is committed to promoting just and equitable principles of trade and sound business practices in the Nigerian capital market by enforcing its listing and trading rules in accordance with global best practices and ensuring that the standards set out are effective to maintain a fair and orderly market while protecting investors.