When shareholders of integrated energy giant operating in Nigeria, Oando Plc, meet for its 47th Annual General Meeting virtually on September 17, 2026, the directors are proposing for consideration and approval as a special business, “without modification,” among others, the “Cross-Border Listing of the Company’s Shares on Other Stock Exchanges.”
Specifically, approving the resolution, according to the notice of AGM by Folasade Ibidapo-Obe, Oando Plc’s Chief Compliance Officer and Company Secretary, will authorize the directors “to approve and effect the listing of the company’s shares on such other stock exchange(s) as they may deem fit (including cross-border listings), and to take all such steps.”
Such approval will also allow the board “execute all such documents, and do all such things as may be necessary or expedient to give effect to and ensure full compliance with the listing requirements of any such stock exchange, subject to obtaining any regulatory approvals required under applicable law.”
Recall that Oando Plc shares are listed primarily on the Nigerian Exchange Limited and enjoys dual secondary listing (in 2005) on the Johannesburg Stock Exchange.
The proposed global listing on other exchanges is expected to deepen its liquidity and offer it access to the global capital market for the much needed funding of its operation, given the company operates in a capital intensive sector that relies heavily on foreign exchange.
