Oando Plc issues 1.28 billion new shares in major capital restructure
Oando Plc has finalized a significant share distribution, issuing over 1.28 billion units to restructure its share capital. The company is also advancing a rights issue to raise N220.79 billion in fresh capital. Shareholders have already witnessed a 4.48% increase in the stock price this year.
The second phase of Oando's share distribution will conclude by 31 March 2026. This phase will release 604,348,395 new units, giving shareholders two additional shares for every 27 they already own. Only those registered as of 30 June 2025 will be eligible for the allocation. Any fractional entitlements will be rounded up or down, with no cash compensation for leftover fractions.
The total distribution now stands at 1,283,712,601 units, completing the company's planned share allocation. Meanwhile, Oando has filed an application with the Nigerian Exchange Limited to list a rights issue of 4,415,867,342 ordinary shares. The move aims to inject N220.79 billion into the business.
Wale Tinubu, Group Chief Executive of Oando Plc, stated that the share distribution demonstrates the company's commitment to delivering tangible value to investors. However, the firm's financial performance in 2025 showed a decline, with revenue dropping from N4.08 trillion to N3.21 trillion and shrinking profitability margins.
Oando's share price has climbed 4.48% year-to-date, reaching N42 as of 20 February 2026. The completion of the share distribution and the upcoming rights issue will reshape the company's capital structure. Shareholders will now await further updates on the rights issue and its impact on the business.
