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Official: Oando Extends Rights Issue By Two Weeks

Nairametrics by Nairametrics
January 16, 2015
in Uncategorized
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  • Oando has extended its rights issue to January 28th, 2015
  • The Rights Issue initially opened December 3rd 2014 and was to end January 14th 2015
  • The rights issue was supposed to open November 26th, 2014 before it was suspended
  • The rights issue was initially suspended after the lead issuing house Vetiva Capital confirmed that it had not obtained SEC Approval to proceed. The offer eventually opened December 3rd, 2014
  • Receiving Agents now have till Wednesday, 11 February, 2015 to forward returns to Registrars
  • Oando is issuing rights to 2,217,265,184 ordinary shares at a price of N22 per share
  • Oando closed trading at N16.16 Thursday January 15, 2014
  • The rights issue price is now trading at a 36% premium to the current market price
Tags: Oando PlcRights Issues
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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Comments 1

  1. Ogus says:
    January 16, 2015 at 3:18 pm

    ludicrous ! ! Rights issue at a premium
    #BadTiming

    Reply

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