My people, gist don land! Oando Plc don waka go Nigerian Exchange Limited (NGX) wey dem don apply for approval to launch wetin dem dey call rights issue wey go raise N220.79bn sharp sharp! Wetin be rights issue? Na when shareholders fit buy more shares wey fit make dem chop better returns.
Dem wan issue 4,415,867,342 ordinary shares, each at 50 kobo, but dem go sell am for special price of N50.00 per share. E mean say if you get two shares, you fit buy one new one. Na so e dey, no be small!
This one no be just normal issue o, if everybody come out come buy this shares, e go make Oando stronger and give dem the muscle to push their business forward. E go help dem grow their market for energy sector wey don dey hot like pepper soup recently.
But wait o, the koko be say this proposal still dey wait for the green light from higher offices like Securities and Exchange Commission (SEC), NGX, and even JSE Limited plus South African Reserve Bank for di shareholders wey dey South Africa. So Oando go still dey wait before dem fit drop the full tori for all of us.
As e be now, Oando go soon drop more gist on wetin go happen next, like when dem go start di buying and how shareholders go fit join matter. Na good time be this for dem wey dey hold Oando shares, you fit still grab some more if you get the chance, no be wetin dem dey call ‘money miss road’ o.
This move wey Oando dey make no be small matter, e fit mark as one of di largest capital raising wey don happen for Nigerian market for many years. Dem dey try arrange their balance sheet make e strong like iron and position dem to make sure say na long-term gains dem dey find as dem dey work for di energy sector.
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