Oando Plc Secures Approval for Cross-Border Listings

At the 47th Annual General Meeting (AGM) of Oando Plc, shareholders authorized the directors to list the company’s shares on other stock exchanges, including cross-border listings, to enhance stock liquidity and optimize shareholder value. The meeting, held on September 17, also saw the approval of the 2025 audited financial statements and amendments to the company's memorandum and articles of association.

Oando Plc, listed on the Nigerian Exchange Limited (NGX) and with a secondary listing on the Johannesburg Stock Exchange (JSE), aims to provide seamless access for international investors as it scales operations. The company reported a 19.9 percent year-on-year revenue growth to N2.063 trillion, driven by a 28.7 percent increase in Exploration & Production revenue.

Gross profit surged 331 percent to N101.2 billion, and the company transitioned from an operating loss of N158.7 billion in H1 2025 to an operating profit of N127.8 billion in H1 2026. Analysts noted that financing costs remain a concern, with a N200 billion Rights Issue and a $1.5 billion multi-instrument issuance program being key catalysts to monitor.