New major investor acquires Dahiru Mangal’s shareholding in Oando

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Oando Plc Monday said a new substantial investor, Leaf Investment & Realtors Limited, has acquired 1,968,452,614 units of the company’s shares previously belonging to Dahiru Mangal.

The transaction brings to 15.83 per cent Leaf Investment & Realtors Limited stake in the energy firm, the oil driller said in a statement made available on the Nigerian Exchange Limited’s website

This July, Oando Plc settled its disagreement with the Securities and Exchange Limited (SEC) in the overriding interest of the shareholders of the company and the capital market after years of legal tussle.

The agreement included payment of all monetary penalties stipulated in the commission’s letter of May 31, 2019.

Oando’s shares, listed in Lagos, were trading up 0.02 per cent at N5.04 per cent at 13:21 West Africa Time in Lagos on Monday, following the news.

They were trading at that same time at R0.20 per unit in Johannesburg, where they are simultaneously listed, yet to record any movement.