Oando Plc has utilized to the Nigerian Change for approval to listing a rights challenge of 4,415,867,342 atypical shares of the group, concentrating on N220.79 billion in contemporary capital.
Particulars of the proposal had been disclosed in a regulatory submitting signed by Mrs. Folasade Ibidapo-Obe, the corporate’s Secretary and Chief Compliance Officer.
Comprising 4,415,867,342 atypical shares of fifty kobo every, the provide is priced at N50 per share and stays topic to approvals from the SEC, the Johannesburg Inventory Change, and the Reserve Bank of South Africa.
Shareholders will likely be entitled to 1 new atypical share for each two current items held, with key dates and additional particulars to be introduced in the end.
What the information is saying
Oando Plc at the moment has 12,431,412,481 excellent shares listed on the Nigerian Change Restricted, which at a share worth of N44 interprets to a market capitalization of N546.9 billion.
- This represents about 0.4% of the Nigerian Change’s complete market capitalization of N121.5 trillion as of the buying and selling day ended 17 February 2026.
- If the rights challenge is authorized, it should enhance Oando’s excellent shares on the NGX and probably develop the corporate’s market capitalization.
- On the present share worth of N44, the rights challenge worth of N50 represents a premium, which current shareholders are anticipated to think about.
The capital increase comes after a softer 2025 monetary yr, throughout which income declined to N3.21 trillion from N4.08 trillion, whereas profitability margins contracted.
Gross revenue fell by 82% to N27.7 billion, as gross sales prices of N3.18 trillion considerably offset income efficiency.
Therefore, pre-tax revenue declined sharply to N15.2 billion from N383.8 billion recorded in 2024.
Nonetheless, retained losses narrowed to N90.2 billion from N292.4 billion, whereas complete property rose 4.19% to N6.7 trillion and complete liabilities elevated 6.8% to N7.2 trillion, with the stability sheet anticipated to strengthen after the rights challenge.
Backstory
In August 2025, Oando Plc held an Extraordinary Common Assembly (EGM) to handle the discount in its capital for the yr ended 31 December 2024.
- Shareholders reviewed and mentioned measures to resolve the capital discount, in step with Part 137 of the Corporations and Allied Issues Act 2020.
- This adopted Oando’s forty sixth Annual Common Assembly earlier the identical day, the place shareholders authorized atypical and particular enterprise, together with a board-backed plan to boost share capital by as much as N500 billion.
- In late July 2025, Oando had introduced its intention to boost as much as N500 billion—or the equal in international forex—by way of the Nigerian or worldwide capital markets, pending shareholder approval.
The corporate proposed issuing as much as 10 billion atypical shares of fifty kobo every by way of rights points, public choices, personal placements, or debt-to-equity conversions, with the ultimate method decided by the board.
What it is best to know
Oando Plc shares are up over 8% month-to-date on the Nigerian Change, probably pushed by the proposed rights challenge, marking a powerful month-to-month efficiency since June 2025 after they gained 21.57%.
- Market exercise has surged, with buying and selling quantity rising over 180 million shares, in contrast with simply 92 million within the earlier month.
- Yr-to-date, Oando’s shares are up 9.45% on the Nigerian Change and will see a stronger run in 2026, supported by optimistic fundamentals and ongoing capital-raising efforts, in comparison with 2025 when most oil and gasoline shares declined.
