Oando Slips, Trades at 47% Discount to 52-Week High
Oando Plc lost about 7% of its market value on the Nigerian Exchange (NGX) trading platform as investors took profit on the energy stock last week.
The indigenous energy company’s share price closed at N52.15 in the local bourse, which is 47% below its highest value recorded in the last 52 weeks following a sharp price fluctuations.
A slew of analysts maintained that Oando has strong growth potential but investors are looking for more to increase their positions instead of selloffs.
Its share price had hit N98.4% having ranked as one of the best performers among listed companies that boosted their shareholders wealth in 2024.
Since the beginning of 2025, Oando Plc began to relapse in the equity market on twisted investors’ sentiment despite increased earnings streams outlook.
According to data from the local bourse, the share price of Oando Plc closed at N52.15 on Friday as 4.606 million units valued at N243.300 million were traded.
The energy stock opened at N56 in the Nigerian bourse last week, but fluctuated to intra week low of N52 before it picked up momentum.
The company’s 12.431 billion outstanding shares were then valued at N648.298 billion, which is 47% below its highest market value in 52 weeks on Nigerian Exchange.
Last week, Oando announced it has completed first tranche of its share distribution programme. Qualified shareholders get one share for every 12 held based on terms and conditions set. #Oando Slips, Trades at 47% Discount to 52-Week High#
Dollar Falls as Markets Weigh Bessent Comment on Fed Rates
