Oando resumes trading on Johannesburg bourse after two-month ban

Oando Plc, a Nigerian energy group, announced on Wednesday that it had received confirmation from the Johannesburg Stock Exchange (JSE) on the lifting of the suspension on the secondary listing of the company’s securities.

“This change will take effect from today, June 5, 2024, allowing trading to resume. We acknowledge and appreciate the patience of our stakeholders during this time; furthermore, we remain committed to maintaining the highest standards of corporate governance and transparency,” it said in a statement.

The company, which is also listed on the Nigerian Exchange Limited, was suspended from the JSE on March 28 owing to its inability to meet the extended deadline to publish its 2022 audited year-end results and the interim results for 2023.

It said it had earlier unsuccessfully appealed to the JSE seeking a further extension of time within which to file the relevant accounts and requesting that it hold off its intention to suspend its listing on the exchange.

Oando published its 2023 results last week, just over a month after releasing 2022 financials.