Oando Plc - Why you should take up the rights issue - BGL

Proshare

Wednesday, January 23, 2013 / BGL Research
 

Oando Plc (‘Oando’) is currently in the market to raise N54.579 through a rights issue of 4.548 billion ordinary shares of 50k at N12.00 each. The offer opened on December 28, 2012 in Nigeria and on January 4, 2013 in South Africa with a planned closing date of February 06, 2013...
 

Oando intends to utilise about 45% (N23.70 billion) of the offer proceeds to part finance the acquisition of the upstream assets of Conoco Phillips Nigeria Limited....
 

According to the company’s offer document, 52% (N27.78 billion) of the net proceeds from the rights issue will be used to improve its leverage position as well as its balance sheet by repaying parts of the N60 billion syndicated loans secured from commercial banks in Nigeria....
 

We advise you to take up the rights issue based on strong potential upside for Oando Plc...
 

For more information, Please click the following link: Equity Note: Oando Plc - Why you should take up the rights issue
 

 

Thisday, Page 39 dated Today.
 

 

Disclaimer/Advice to Readers:
While the website is checked for accuracy, we are not liable for any incorrect information included. The details of this publication should not be construed as an investment advice by the author/analyst or the publishers/Proshare. Proshare Limited, its employees and analysts accept no liability for any loss arising from the use of this information. All opinions on this page/site constitute the authors best estimate judgement as of this date and are subject to change without notice. Investors should see the content of this page as one of the factors to consider in making their investment decision. We recommend that you make enquiries based on your own circumstances and, if necessary, take professional advice before entering into transactions. This publication is published with the consent of the author(s) for circulation to its online investment community in accordance with the terms of usage. Further enquiries should be directed to the author whose e-mail is BGL Research [
research@bglgroupng.com]

READ MORE:
Related News
SCROLL TO TOP