Oando PLC Rights Issue Update: Register Freeze Announced
Oando Plc has filed a corporate action update disclosing the status of its proposed rights issue and announcing a restriction on share transfers between its Nigerian and South African registers. The filing confirms the NGX record date was set as 13 February 2026 and that regulatory approvals from the SEC, NGX, and JSE remain pending.
Oando Plc has issued an update to shareholders regarding its proposed rights issue, originally announced on 17 February 2026. The Company applied to the Nigerian Exchange Limited (NGX) on 13 February 2026 for approval to list 4,415,867,342 ordinary shares of 50 Kobo each at ₦50.00 per share, on the basis of one new ordinary share for every two existing ordinary shares held.
The Company disclosed that it is still in the process of obtaining regulatory approvals from the Securities and Exchange Commission of Nigeria, the NGX, and the JSE Limited in South Africa. The NGX record date for shareholder qualification has been set at 13 February 2026, regardless of the outstanding approval processes.
The JSE record date has not yet been determined and will be announced separately in accordance with JSE requirements. Pending that announcement, the Company has restricted all transfers of shares between the Nigerian Share Register and the South African Share Register with immediate effect. The Company stated that a further announcement covering salient dates and times related to the rights issue will be published in due course.
