Oando Plc Spiral Down to N600 Billion in Market Value
Oando Plc fell in the latest round of sell activities on the energy stock, a scary development that has reduced its market value by about 51% from its 52-high in the equities segment of the Nigerian Exchange.
Its 12.431 billion shares outstanding have now been slashed to N600.431 billion in the equities market due to the latest exit rounds by investors via open market transactions. The company valuation had reached N1.223 trillion in a good moment last year when management released a delayed earnings scorecard.
Ranked as one of the top performers in the Nigerian market, the energy company’s market value surged by 508% in 2024, despite a touch of sell pressure in the latter part of the year.
Investors mood started changing since last year, and sell pressures heated more in the first quarter of 2025 in spite of the company’s many wins—successful acquisitions—and as the preferred bidder for Trinidad and Tobago Refinery.
For one thing, analysts see strong earnings potential in Oando as the company continues to consolidate its market positions. But investors seem to be well detached with its successes.
The latest share price decline reflects investors’ mood, expectation, and perception about the energy company despite its significant expansion drive. Oando is growing earnings capacity, and potential, but shareholders exiting positions speak volume about unmet expectations.
On Wednesday, Oando Plc dropped further as energy stock investors negative sentiment persisted. The company settled lower by about 4.6% to N48.3 per share on the Nigerian Exchange as more than 4.8 million units valued at about N233 million exchanged hands in the equities market.
While the energy company’s fundamentals remain rock solid, its stock price movement has continued to reflect investors’ negative perceptions. Oando has seen heavy share price volatility in 2025 after a strong market performance in 2024.
At the current price, Oando market value has dropped by more than half of its best price in 52 weeks. Though, its lower stock price has created a fresh entry points for investors seeking undervalued stocks, existing shareholders wealth has been eroded by about 51%.
In 2024, Oando Plc gained 508.29% to settle at N66 per share as investors appreciated the company’s expansion by acquisition focus amidst uncertainties in the global commodities market.
Oando obtained shareholders’ approval to distribute shares. The energy company said shareholders reached the decision at the 45th Annual General Meeting (AGM) on Tuesday, December 17, 2024.
The company told the Nigerian Exchange that the first phase distribution will apply to shareholders on the company’s register of members at the close of business on February 14, 2025 for tranche 1 and June 30, 2025 for tranche 2. #Oando Plc Spiral Down to N600 Billion in Market Value #Oil, Gas Index Rises Sharply as Oando Gains 508% in 2024