Oando PLC, a prominent Nigerian energy company listed on the Nigerian Exchange Limited (NGX) and the Johannesburg Stock Exchange (JSE), has been suspended from the JSE as of March 27, 2024.
The suspension stems from the company’s failure to publish its audited financial results for 2022 and interim results for 2023 within the extended deadlines set by the exchange. Despite Oando’s efforts to seek an additional extension to submit the required financial documents, the request was denied by the JSE.
Consequently, the suspension of its securities trading on the exchange was enforced. This suspension prohibits investors from conducting transactions involving Oando’s shares on the JSE until the company fulfills the listing requirements by submitting the overdue financial reports.
Source: Parrot Nigeria