Oando hopes to avoid long slog repeat with potential $1.5bn raise

By Andrew Griffin
28 Jan 2014

Oando, Nigeria's largest publicly quoted oil and gas firm, is seeking shareholder approval for a capital raise of up to N250bn ($1.52bn). It struggled through a deal a fifth of the size early last year.

Oando will ask shareholders for approval to raise up to N50bn through a rights issue and a further N200bn through the issuance of equity or debt through a public offering, private placement, rights issue or other method.

The company's share price has been sliding since April 2011, when it was ...

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