Oando gets approval for N80bn Rights Issue

Oando-logo-300x1733o9 December 2015, Lagos – The Board of Directors of Oando Plc has received approval from shareholders for a N80bn Rights Issue.

The shareholders also approved the partial divestment of the firm’s midstream and upstream services businesses as was done with its downstream business in order to attract substantial capital to fuel its growth initiatives.

Oando, which is Nigeria’s largest indigenous oil and gas company and integrated energy solutions provider, reaffirmed its commitment to creating value for shareholders during its 38th Annual General Meeting held in Lagos on Monday.

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