Oando PLC was listed on the floor of the Nigerian Stock Exchange in February 1992. The company currently has a market capitalization of approximately N123 billion (US $823 million), with 1.8 billion shares outstanding as at 30th June, 2010. It is one of the top ten non-financial institutions quoted on the Nigerian Stock Exchange.
The company’s revenue has grown at a Compounded Annual Growth Rate (CAGR) of over 50% per annum from 2003 to 2009, in the same period, profit before tax grew at a CAGR of 58% whilst shareholder’s funds grew at a CAGR of 121%.
In 2005, Oando PLC became the first African company to have a cross-border inward listing on the Johannesburg Stock Exchange. The company was listed in November 2005 with the introduction of its entire issued share capital on the main board of the JSE, in the Resources Oil and Gas Sector.
Oando has recently redefined its business imperative from its origins in downstream petroleum products marketing, to encompass the entire value chain in the Oil & Gas Industry. The company attained the status of an integrated energy solutions provider, by adding gas, international supply, trading and energy services to its present stable of offerings and is currently incubating upstream oil, refining and power initiatives. It is envisioned that Oando shall become a leader in the African Energy Sector, delivering world-class service on the continent.
“A proudly African Company”, Oando’s exemplary standards of corporate governance was commended by the Nigerian Stock Exchange with the “Quoted Company of the Year Award” and the “Best in Downstream Petroleum Sector” for year, 2003, 2004 and 2006.
