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NSE lifts Technical Suspension on Oando Shares
Oando PLC announces that the Nigerian Stock Exchange (NSE) has lifted the technical suspension placed on its shares on Wednesday October 21, 2009 and normal trading activity on the stock has resumed.
The technical suspension was placed on the price of Oando PLC shares further to its application to raise N21 billion through Rights Issue offering, in compliance with Rule 82(C) Securities and Exchange (SEC) Rules and Regulations. The Rights Issue, which Acceptance List closed on the 19th February, 2010, is currently being processed for allotment prior to the announcement of the outcome of the offer.
Commenting Mrs. Oredeji Delano, Chief Compliance Officer & Company Secretary said “The lifting of the technical suspension means that Oando shares will now experience price movements in response to competitive forces of demand and supply in line with the NSE’s trading rules”.
