The Nigerian Stock Exchange (NSE) has lifted a technical suspension placed on Oando Plc shares. According to the NSE, the move was following a request by the Securities and Exchange Commission (SEC).
We refer to our bulletins of 18, 20 and 23 October 2017 regarding the directive of the Securities and Exchange Commission (Commission) to The Nigerian Stock Exchange (The Exchange) to place the shares of Oando Plc (Oando) on Technical Suspension.
Please be informed that on 9 April 2018, the Commission directed The Exchange to lift the Technical Suspension placed on the shares of Oando.
Further to the Commission’s 9 April directive, please be advised that effective today, 11 April 2018,The Exchange lifted the Technical Suspension placed on the shares of Oando. Consequently, there is no longer any impediment to price movement in Oando’s shares.
Oando’s shares are currently trading at ₦6.60 in today’s trading session.
The SEC had in October 2017, placed the company’s shares on full suspension in order t carry out a forensic audit. The suspension was then reduced to a partial suspension. A partial suspension means there are no changes in the price of a stock. Hence, Oando trading at ₦5.99 up till yesterday.