The Nigerian Stock Exchange on Wednesday has said that it has suspended exchanging the offers of Oando Plc from October 20, 2017.
The NSE, in an announcement on its site, marked by the Head of Regulation, Tinuade T. Stunningness, said it followed up on the order of the Securities Exchange Commission.
The announcement peruses, "Notification of Suspension of Trading in the Shares of Oando Plc.
Dealing Members are thus advised that the Securities and Exchange Commission has guided The Nigerian Stock Exchange to suspend exchanging the offers of Oando Plc as takes after: Effective for forty - eight (48) hours from today, 18 October 2017 to 20 October 2017, The Exchange should execute a full suspension in the exchanging of the offers of Oando Plc
Effective from 20 October 2017 and until promote order, The Exchange should execute a specialized suspension in the offers of Oando Plc.
A full suspension is the end of exchanging activities in a listed security for a given period. A specialized suspension is the intrusion of value development in a listed security for a period with the goal that any dealings in the securities which happens amid the time of the suspension won't bring about any adjustment in cost, which change may have happened had the suspension not been implemented.
In the 48 hour time span beginning today, there will be no exchanging the offers of Oando Plc. From that point, successful 20 October 2017, speculators will have the capacity to exchange Oando Plc's offers yet such exchanging won't result in any development in the cost of the offers