Invest Your Money: Oando Opens Rights Issue At N22

Oando Plc has commenced a rights issue on the basis of one new share for every four ordinary shares held as of July 25, 2014.




The Nigerian Stock Exchange confirmed in its weekly report that the energy giant, which is listed on the Exchange and the Johannesburg Stock Exchange, had notified it of the rights issue.

According to the Exchange, the price of the issue, which opens on Monday (today, is N22. It added that the offer will close on December 19.

Meanwhile, the Exchange said it had on Tuesday last week, admitted 215.6 million shares of 50 kobo each belonging to Oando for trading on the Exchange.

"This arose as a result of the shares conversion of N2,587,500,000 notes, thus increasing the issued quantity of the company's share to 9,084,685,738," the Exchange said.

The group's unaudited results for the...http://talkafrica.co/ng/p/5859/don-t-you-want-to-invest-oando-opens-rights-issue-at-n22
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