Nigeria’s Oando gets court order to halt share suspension, audit: court paper
LAGOS (Reuters) – Nigeria’s Oando has obtained a court order to halt the suspension of trading in its shares and a forensic audit planned by the Securities and Exchange Commission (SEC), court documents seen by Reuters showed on Tuesday.
Shares in Oando Plc were frozen at 5.99 naira on Monday until further notice, the stock exchange said after the Securities and Exchange Commission (SEC) ordered a forensic audit into the company.
The SEC suspended trading in the stock for 48 hours last week, saying it was investigating complaints about insider trading and discrepancies in its ownership structure.
(Reporting by Chijioke Ohuocha; Editing by Alexis Akwagyiram and David Evans)
Advertisements
0 Comments