Shareholders of Oando Plc (NGX: OANDO) have approved the cross-border listing of the shares of the company.
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At Oando’s 47th Annual General Meeting (AGM) held on September 17, 2026, a favourable resolution was given authorizing the Directors to approve and effect the listing of the Company’s shares on other stock exchange(s) as they may deem fit (including cross=border listings), and to take all such steps, 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.
Oando Plc is listed on the Nigerian Exchange Limited (NGX) with a secondary listing on Johannesburg Stock Exchange (JSE). It became the first African company to achieve a cross-border inward listing on the JSE back in 2005.
A cross-border listing (also known as a dual listing or secondary listing) occurs when a publicly traded company lists its shares on one or more stock exchanges located outside its home country, in addition to its primary domestic exchange.
Shares can be cross-listed directly or through financial instruments like Depositary Receipts (such as American Depositary Receipts / ADRs or Global Depositary Receipts / GDRs), which represent shares of a foreign stock held by a custodian bank.
Business Day reported that Oando’s newest move is designed to enhance stock liquidity, optimise shareholder value, and provide seamless access for international investors as the energy group scales its operations.
Investogist reported in August 2024, that Oando had completed the $783 million acquisition of Nigerian Agip Oil Company (NAOC), a unit of Italy’s oil supermajor Eni.
At the 47th AGM, the shareholders also received and approved the 2025 audited financial statements.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
