Oando Plc has utilized to the Nigerian Change for approval to listing a rights difficulty of 4,415,867,342 strange shares of the group, focusing on N220.79 billion in contemporary capital.
Particulars of the proposal had been disclosed in a regulatory submitting signed by Mrs. Folasade Ibidapo-Obe, the corporate’s Secretary and Chief Compliance Officer.
Comprising 4,415,867,342 strange shares of fifty kobo every, the supply is priced at N50 per share and stays topic to approvals from the SEC, the Johannesburg Inventory Change, and the Reserve {Bank} of South Africa.
Shareholders can be entitled to at least one new strange share for each two current items held, with key dates and additional particulars to be introduced in the end.
Oando Plc presently has 12,431,412,481 excellent shares listed on the Nigerian Change Restricted, which at a share value of N44 interprets to a market capitalization of N546.9 billion.
The capital elevate comes after a softer 2025 {financial} yr, throughout which income declined to N3.21 trillion from N4.08 trillion, whereas profitability margins contracted.
Gross revenue fell by 82% to N27.7 billion, as gross sales prices of N3.18 trillion considerably offset income efficiency.
Therefore, pre-tax revenue declined sharply to N15.2 billion from N383.8 billion recorded in 2024.
Nonetheless, retained losses narrowed to N90.2 billion from N292.4 billion, whereas whole property rose 4.19% to N6.7 trillion and whole liabilities elevated 6.8% to N7.2 trillion, with the stability sheet anticipated to strengthen after the rights difficulty.
In August 2025, Oando Plc held an Extraordinary Normal Assembly (EGM) to handle the discount in its capital for the yr ended 31 December 2024.
The corporate proposed issuing as much as 10 billion strange shares of fifty kobo every by rights points, public choices, personal placements, or debt-to-equity conversions, with the ultimate method decided by the board.
Oando Plc shares are up over 8% month-to-date on the Nigerian Change, possible pushed by the proposed rights difficulty, marking a powerful month-to-month efficiency since June 2025 once they gained 21.57%.
