The Johannesburg Stock Exchange on Thursday suspended trading in the shares of Nigeria’s oil company, Oando Plc.
This is coming a day after the Nigerian Stock Exchange suspended the shares of Oando.
The Nigeria’s Securities and Exchange Commission had on Wednesday directed the NSE to suspend trading in Oando Plc’s shares for several infractions.
In a notice issued on Thursday, the JSE said: “The Company has received communication from its primary listing, the Nigerian Stock Exchange, that the Securities and Exchange Commission have issued a directive to immediately suspend the trading of Oando shares, a directive to which the NSE has complied.
“The JSE has accordingly suspended trading of the Oando shares with effect from 09:00 a.m. SA time, pending clarification following the review of subsequent correspondence received on 18 October 2017 from the NSE and SEC and will provide a full statement of the Company’s position as soon as possible.”