By Adeyemi David
Oando Plc has notified its shareholders of an application submitted to the Nigerian Exchange Limited (NGX) on Friday, February 13, 2026, seeking approval to list a Rights Issue of 4,415,867,342 ordinary shares of 50 Kobo each at N50 per share.
The Proposed Rights Issue will be offered on the basis of one new ordinary share for every two existing shares held by shareholders.
The initiative remains subject to regulatory approvals from the Nigerian Securities and Exchange Commission, NGX, JSE Limited, and the Reserve Bank of South Africa for shareholders based in South Africa.
Oando stated that further announcements, including key dates and timelines for the Rights Issue, will be communicated in due course.
For inquiries, shareholders may contact the Company Secretary, Folasade Ibidapo-Obe, or the Group Chief Financial Officer, Adeola Ogunsemi, at the company’s Victoria Island offices in Lagos
