The Nigerian Stock Exchange (NSE) finally lifted the technical suspension it placed on the shares of Oando Plc, just as the stock rose by 10 per cent to close at N6.60 per share.
It would be recalled that the 176-day technical suspension was earlier lifted on April 11, following the April 9 directive by the SEC.
However, three hours into trading, the NSE reinstated the technical suspension, citing new directive from the apex capital market regulator causing confusion in the market.
The share price rose to N6.30, a 5.8 per cent increase, from N5.99 within three hours of trading on April 11.
Ms Ayotola Jagun, Oando Chief Compliance Officer and Company Secretary, said in a statement that the company’s shares were highly sought on its first full trading day.
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