Oando Share Price Drops as Market Reacts to SEC Action


By Goddy Egene

The stock market community Monday reacted negatively to developments at Oando Plc as the share price fell 9.52 per cent to close lower at N3.80.

Investors traded 27.145 million units of the stock valued at N103.269 million. Year-to-date, Oando Plc shares have suffered a decline of 24 per cent.

Market operators said the ruling by the Securities and Exchange Commission (SEC) on the outcome of the forensic audit of activities of Oando sent mixed feelings among shareholders and other stakeholders.

…more details later