Oando waxes strong on the Nigerian Capital Market, begins trading on Johannesburg Stock Exchange
Oando shares began trading again on the floor of the Nigerian Capital market, but not without an incident – the shares was impressively overbid. In four days of trading, Oando’s shares have witnessed a commendable 38% increase.
Down south of the continent, the company’s shares have also commenced trading on the Johannesburg Stock Exchange, meaning shareholders on both sides of the world can finally benefit from the positive operations of the company
The company is recording these positives even as the SEC continues its probe.
On the controversy surrounding the lifting of the technical suspension, Eng, Patrick Ajudua, Oando shareholder with the New Dimension Shareholders Association said; “It is worrisome how the conversation has shifted from this good news, Oando shares trading on the capital market, to the call for the Minister of Finance to be sacked. Shareholders should be happy because we have lost out the most. This is a major hurdle that has been crossed and should be celebrated. But instead troublesome and supposed Oando shareholders are not celebrating they are protesting this good news. Why would any shareholder do that? Should they not be asking for the swift conclusion of this investigation so Oando can focus on generating a profit and dividend for us shareholders? My hope and that of the members of my association is that SEC will conclude the forensic audit as soon as possible so that the company can focus on its business operations.”